EMIR Reporting

EMIR reporting has been in force for over one year. A major challenge for the regulators is the quality of data, especially the LEI data. The EMIR Level 1 validation rules went live in December 2014. The Level 1 validation included among other stricter rules on the reporting of UTI / USI and changes of  the Event Life Cycle field. The Level 2 validation defines permitted values ​​for a number of fields. ESMA has published the revision of the RTS and the ITS in a consultation paper end of last year. The permitted Level2 validations of EMIR can be consulted here (.xls). The Level 2 validation will come into force during the end of October 2015. The latest ESMA Q/A paper on the EMIR Reporting Level 2 validation has been published in April. A non-compliance with the Level-2 validations will trigger a rejection from the TR. This is an important step towards improving data quality. The message of the trade repository indicates which fields have to be corrected. The transaction registers implement the validations based on the technical standards of EMIR (RTS and ITS).

EMIR Reporting Software

Our software TRIS solves the EMIR reporting challenges at a fixed cost with no onsite installation and keeps up with the changes in the regulation. The key benefits of TRIS are:

YOUR BENEFITS:

bb Customizable dashboard with alerts

bb Access to support cases and notifications

bb Easy to use and intuitive reporting interface

bb E-Mail notification in case of submission errors for compliance monitoring

bb FX rates backdated to 2004, counterparty classification calculation and warnings in case of limit breach

bb Generation of custom reports out of the web interface for reconciliation

bb Audit-compliant exception handling and logging

bb Responsive Support from 09am to 6pm CET

bb EMIR: all asset classes are supported (FX, IR, Credit, Commodities, ETD)

bb Multiple reporting obligations from one software

PRODUCT FACTSHEET AND PRICING

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