Tuesday October 29 2013
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: International
The International Swaps and Derivatives Association, Inc. (ISDA), The British Bankers Association (BBA), The Investment Management Association (IMA) and Markit have announced the launch of the EMIR Counterparty Classification Tool on ISDA Amend, the online service from ISDA and Markit that facilitates compliance with certain European Market Infrastructure Regulation (EMIR) and other regulatory requirements.
The EMIR Counterparty Classification Tool offered by ISDA Amend provides an online system which will allow all businesses to classify themselves according to the EMIR taxonomy by answering a series of questions. The Tool is free for corporations and buy-side firms. The ISDA 2013 EMIR NFC Representation Protocol (open since March 2013) is another way of addressing the EMIR requirements. The Associations were conscious that market participants needed a broader reach of clients than had adhered to the Protocol and developed this industry tool as a complementary way to reach out to the market.
Click on the above link for more details.