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  • European Securities and Markets Authority Launches Consultation on Trade Repository Reporting Guidelines

    05/23/2019
    The European Securities and Markets Authority has launched a consultation on its proposed guidelines for the information that should be reported periodically by trade repositories. The purpose of the guidelines is to assist ESMA in its supervisory role by streamlining the periodic element of the information collection process. Responses to the consultation should be submitted by August 27, 2019.
     
    Trade repositories are typically subject to either, or both of, the European Markets Infrastructure Regulation and/or the Securities Financing Transactions Regulation. Under this legislation, they are obliged to comply with certain conditions of registration as trade repositories and to notify ESMA of any material changes to the conditions for their registration. The Guidelines clarify the format and frequency of the information that trade repositories should submit to ESMA as the key supervisory body and to comply with their notification obligations under EMIR and/or SFTR. There is currently a lack of uniformity in the format and deadlines by which information should be submitted.
     
    The guidelines include requirements relating to:
     
    • Reporting specifications, setting out instructions and standardized templates for the reporting of key pieces of information;
    • Reporting schedules, frequencies and deadlines, which impose common standards upon all trade repositories for a set base of documents, as well as differentiated standards based on “Calendar A” or “Calendar B” reporting schedules, depending on the risk profile of the particular trade repository; and
    • Reporting of periodic and ad hoc information.
     
    View ESMA's consultation paper.
     
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