As European market infrastructure which will become mandatory within the electronic trading industry is further implemented, consultations between the European Securities and Markets Association (ESMA) and regulated infrastructure firms continue.
European trade repository REGIS-TR has submitted its responses to a consultation paper which was issued by ESMA relating to how the technological aspects of trade reporting in OTC derivatives should be considered.
Following in the footsteps of the United States reguatory authorities remit in which all OTC trades which result from institutional trading firms should be processed via a central counterparty and trade repository, Europe’s EMIR (European Market Infastructure Regulation) is emulating a similar system.
REGIS-TR has fully detailed its commercial viewpoint on how order flow should be handled, as well as which derivative classes should be included in each category for reporting and clearing, as well as providing full technical detail.
To read the responses to the ESMA consultation paper from REGIS-TR, click here