The European Securities and Markets Authority (ESMA) and the Reserve Bank of Australia (RBA) have concluded a Memorandum of Understanding (MoU) that will allow RBA to have access to data held in European Trade repositories according to its mandate.
The MoU is effective as of February 18th, 2015.
The ESMA-RBA MoU is the second cooperation arrangement established under Article 76 of the European Market Infrastructure Regulation (EMIR).
This provision aims at ensuring that third-country authorities that do not have any trade repository in their jurisdiction may access the information on derivatives contracts held in European trade repositories which is relevant for their mandates.
The MoU ensures that guarantees of professional secrecy exist.
The first MoU of this kind was concluded in November 2014 between ESMA and the Australian Securities & Investments Commission (ASIC).
For document details, click here.