You Don’t Need EMIRacle – Trade Reporting For SPVs Made Easy

EMIR's trade reporting obligations come into effect on 12 February and counterparties to derivative transactions are currently scrambling to ensure they have all the appropriate systems in place to ensure compliance. For large financial institutions, this has already involved many months of hard work and, even still, many are not optimistic about meeting next month's deadline. At the other end of the spectrum, the administrative burden on one-off or low volume commercial counterparties should be relatively light, and ensuring that the reporting obligations are covered not therefore too taxing.

What then of SPVs – which are neither operational goliaths like their derivative counterparties nor autonomous commercial entities capable of assessing the implications on cost, resources and time of each option open to them?