Tuesday November 12 2013
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: European Union
Link: http://ec.europa.eu/internal_market/financial-markets/derivatives/index_en.htm#maincontentSec4
Further to the update of 8th November 2013, the European Commission has stated that there would be no delay to the implementation of ETD reporting. “Postponing the starting date of the reporting obligation for exchange traded derivatives would hinder the achievement of a key objective of EMIR, that is, the identification, monitoring, assessment and mitigation of systemic risk arising from derivative contracts by almost one year, said a EC statement: “Therefore, the proposed postponement runs counter to the principle of ensuring the stability of the financial system and the functioning of the internal market for financial services.”
Under the terms of the EMIR indicative timeline proposed by ESMA, trade reporting will now commence in Europe on 12 February 2014. That means that all trades, OTC and ETD, will have to be reported on that date, with the backdating of reports to August 2012.
Click on the above link for more details.