BLOGS. October 2, 2023
EMIR Reporting Changes and Counterparty Delegation
The European Market Infrastructure Regulation (EMIR) has evolved since its development in 2012. The transaction reporting requirements improve the oversight and monitoring of derivatives markets. It aims to allow the authorities to keep track of market activities and identify possible risks to the financial system. Market participants are now preparing for changes to these reporting requirements set to take effect in April 2024, including changes in the reporting format to ISO20022 XML standards, increased reporting fields and the addition of the new Unique Product Identifiers (UPI). Preparing for these changes can be difficult, particularly when it comes to direct reporting or counterparty delegation.
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