***** I M P O R T A N T ***** ESMA Authorized Trade Repository Reporting Regulations, Effective February 12, 2014

To: Clearing Firms, Compliance Officers and Market Participants Subject to EMIR Regulations

 

Please note that under European Market Infrastructure Regulations (“EMIR”), all European Union (“EU”) financial and non-financial institutions transacting in Over the Counter (“OTC”) or Exchange Traded Derivative (“ETD) transactions will be required to report on a trade date plus one (“T+1”) basis to an European Securities and Markets Authority (“ESMA”) authorized Trade Repository (“TR”).

 

These regulations come into effect beginning Wednesday, February 12, 2014, and are codified under Article 9 of Regulation (EU) No 648/2012 of the European Parliament and of the Council.

 

EMIR Trade Reporting regulations are specific to EU entities and apply to their global activity. As such, trading and clearing by EU entities (or an EU affiliate/branch) in both CME Group US and CME European markets will be required to be reported under EMIR regulations.

 

Compliance on the first day of reporting is mandatory and this Special Executive Report is to advise firms of the obligation to have a reporting solution in place by February 12, 2014. 

 

Please forward this communication to any clients that may be subject to EMIR Regulations. 

 

If your firm needs assistance or is experiencing issues, CME has two simple, efficient and fully compliant EMIR reporting solutions to aid in your compliance. Each solution results in a full EMIR report into CME's ESMA registered European Trade Repository (ETR) operating in all asset classes in both OTC and ETD.

 

In order for your firm to use one of the two solutions, please do one of the following:

 

1.    Delegate the reporting obligation to CME solely for transactions in CME Group markets. This requires a simple one-time registration, no development work and no daily reporting. Learn more by contacting repository@cmegroup.com or visiting www.cmegroup.com/delegatedreporting.

 

2.     Register directly with CME's European Trade Repository and submit data on any derivative market via CSV upload in a web portal (or other available alternatives). Learn more by contacting repository@cmegroup.com or visiting www.cmegroup.com/etr.