Reporting of derivatives transactions under EMIR has proved problematic for firms and regulators, as trade groups call for a standardised approach.
A new study found the two-way initial margin rules for non-cleared derivatives will also result in a collateral shortfall of $60 billion alone.
The FCA has disputed a peer assessment that its analysis and integration of EMIR data in its supervisory approach is not meeting expectations.
Firms have been urged by the FCA to take reasonable steps to prepare with post-Brexit MiFID and EMIR reporting requirements.
FIA has said firms should be required to submit position reports for ETDs under EMIR, rather than transaction-level details.
UnaVista TRADEcho will provide MiFID II and EMIR reporting in the EU and the UK.
Transaction reporting solution for buy- and sell-side firms aimed at fulfilling compliance requirements for EMIR, MIFIR, Dodd-Frank.
Regulatory bodies issue guidance on initial margin rules as industry continues to call for further amendments
Industry bodies including SIFMA, ISDA, ABA and GFMA criticise final initial margin thresholds, recommending raise to EUR/USD 100 billion.
DTCC gained approval back in 2013, along with counterparts Regis-TR, UnaVista, CME and ICE.
ESMA has been making plans to prepare for a ‘no-deal’ scenario ahead of Brexit, with disruption to clearing being one of the biggest concerns.