In preparation for the commencement of the EMIR Refit regulatory reporting rules on 29 April 2024, Suggested Operational Practices (SOP) for over-the-counter derivative (OTC) reporting have been established and agreed by market participants through a series of discussions held within the ISDA Data and Reporting EMEA Working Group. These SOPs have been developed to help deliver accuracy and efficiency of EMIR reporting, and to adhere to the regulatory requirements.
The SOP matrix has been established based on the EMIR Refit validation table, (as published by ESMA), which contains the Regulatory Technical Standards (RTS), the Implementation Technical Standards (ITS) and validation rules. Additional tabs have been added to supplement to SOPs, including product-level SOPs for several of the underlier fields, and listing names of floating rate options. There are also tabs to reflect updates made to the matrix (‘Updates’) and a tab to track questions raised by the ISDA Data and Reporting EMEA Working Group (‘WG Questions’).
This document will continue to be reviewed and updated as and when required. While the intention of these SOPs is to provide an agreed and standardised market guide for firms to utilize, no firm is legally bound or compelled in any way to follow any determinations made within these EMIR SOPs.
Documents (1) for EMIR Refit Reporting Suggested Operational Practices
Latest
Paper on Liquidity Assessment for Single-name CDS
On September 5, ISDA submitted a paper to the European Securities and Markets Authority (ESMA) and the European Commission in support of its earlier response to ESMA’s Markets in Financial Instruments Regulation (MIFIR) review consultation package 4 (CP4) on transparency...
Response to EC on Delegated Regulation
On September 4, ISDA responded to the European Commission’s (EC) consultation on amendments to delegated regulation (EU) 2017.567. The key area of interest for ISDA was the proposed insertion of a new article 16a that establishes what constitutes a post-trade...
Raising Clients’ Awareness on Portability
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Response to FCA on Ancillary Activities Test
On August 28, ISDA and FIA submitted a joint response to the Financial Conduct Authority’s (FCA) consultation paper CP25/19 on the ancillary activities test to determine if commercial users or producers of commodities that trade in commodity derivatives, emission allowances...