On 19th December, 2019, The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association, Inc. (ISDA) and International Securities Lending Association (ISLA) published a new agreement intended to simplify reporting across different European Union regulatory regimes.
The Master Regulatory Reporting Agreement (MRRA) gives market participants an option to use a single template to help them manage regulatory obligations and provide services related to reporting under the European Market Infrastructure Regulation (EMIR) and the Securities Financing Transactions Regulation (SFTR).
The MRRA sets out common terms governing mandatory and delegated reporting of derivatives transactions under EMIR, compatible with changes introduced via EMIR Refit, as well as securities financing transactions under the SFTR. The agreement has also been drafted with a view to ensuring these terms remain effective post-Brexit.
On 6th December, 2023, the MRRA was updated to reflect certain changes to the reporting rules under EMIR REFIT, including amendments to the EMIR Reporting Annexes and Derivatives Annex.
The MRRA and Explanatory Notes (along with blacklines against the previously published version) are attached below.
Documents (6) for Master Regulatory Reporting Agreement
- Master-Regulatory-Reporting-Agreement-120623(docx) will open in a new tab or window
- Master-Regulatory-Reporting-Agreement-BLACKLINE-120623(pdf) will open in a new tab or window
- MRRA-Explanatory-Memorandum-120623(docx) will open in a new tab or window
- MRRA-Explanatory-Memorandum-BLACKLINE-120623(pdf) will open in a new tab or window
- Master Regulatory Reporting Agreement - Explanatory Notes 121919 (superseded)(pdf) will open in a new tab or window
- Master Regulatory Reporting Agreement 121919 (superseded)(docx) will open in a new tab or window
Latest
ISDA Launches Pre-adherence Period for Notices Hub
ISDA has begun a pre-adherence process for the ISDA Notices Hub, enabling firms to sign up to a free protocol that will allow them to use the new platform when it launches on July 15. Under the ISDA Master Agreement,...
ISDA SIMM EU Regulatory Approval Requirements
ISDA published ISDA SIMM version 2.7+2412 on May 22 – the first recalibration under the new semiannual cycle. The release triggered a new requirement for EU counterparties to apply for regulatory authorization to use the model – a submission that...
Creating Value - IQ June 2025
Ever since its establishment 40 years ago, ISDA has worked to enhance the safety and efficiency of derivatives markets. That has motivated everything we do – from the development of standard documentation and the rollout of new digital solutions to...
Paper on EC’s Sustainability Omnibus Proposal
On June 9, ISDA published a position paper setting out its views on the European Commission’s (EC) Sustainability Omnibus Package. In the paper, ISDA urges European authorities to: Ensure a proportionate, harmonized and symmetrical approach to the use of derivatives...