The best practices for reporting under the European Market Infrastructure Regulation (EMIR) have been updated by the trade associations that administer the guidance, in an effort to improve market practice 19 months after they were first published. Kaizen’s Tim Hartley, Director of EMIR reporting, spoke to Global Investor Group on the matter.
“When it comes to data fields, there are a large number of grey areas because of the range of derivatives that are covered by EMIR.
Since publication, the best practice document has been a useful way to navigate that. As a minimum, it gives firms ammunition to make a logical and sensible decision on their approach to specific areas.
This is the case even if they are not following the best practice document to the letter. For us, that is a really great thing because in this area the regulatory guidance has in some cases been lacking when it comes to specific implementation use cases.”
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