EUROPE: European Commodity Clearing Successfully launched Trade Reporting Services under the European Market Infraestructure Regulation (EMIR)

Wednesday March 12 2014

In mid-February, the European Commodity Clearing (ECC) successfully expanded its offering with reporting services required under EMIR (European Market Infrastructure Regulation). In the context of the clearing regulation, all market participants are obliged to forward data on concluded derivatives market transactions to a Trade Repository. The ECC customers can now delegate this task which, in part, includes high administrative efforts to the clearing house.

The Trade Reporting service is provided by ECC both for clearing banks and their connected trading participants which is subject to a monthly service fee of EUR 200. The service covers reporting of transaction data for derivatives which are cleared on ECC to the Trade Repository. In addition, ECC takes over reporting of position data and “backloading”, i.e. the subsequent reporting of relevant derivatives transactions concluded before 12 February 2014.

Click on the above link for further details.