Clarity call for trade repository reporting
To allow regulators to aggregate data on derivatives trades sent to trade repositories, reporting needs to achieve global standardisation but progress towards this goal is proving a long road. Five industry participants give their views.
Stewart Macbeth, chief executive, DTCC Deriv/Serv
We understand the format of the data we will receive as a trade repository, but additional clarity is needed regarding exactly how the content will be specified and how market participants send it. With respect to counterparty codes, our understanding is that the European Securities and Markets Authority (Esma) is looking at three options: a legal entity identifier (LEI); an interim identifier; or a business identifier code (BIC). Esma is looking
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