Looming Emir deadline prompts race to comply
Hundreds of corporates amend OTC documentation this week, ahead of September 15 portfolio reconciliation deadline – but market participants warn of "massive non-compliance"
Many corporates and small financial end-users will break new European rules on portfolio reconciliation when a key deadline arrives next week, market participants are warning – potentially leaving them unable to trade. Others are still racing to comply, with more than 200 non-financials filing related documents this week.
From September 15, the European Market Infrastructure Regulation (Emir) requires all entities that trade over-the-counter derivatives to have agreed portfolio reconciliation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Emir
New Brexit carve-out urged for legacy EU cleared swaps
Risk and default management of grandfathered portfolios required in any clearing relocation plan
Large corporates unconvinced by Emir reporting gift
Corporates ask for opt-out from Emir reporting changes proposed for their benefit
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
Doubts plague Emir reporting clean-up
Industry still advocates single-sided reporting as a way to improve EU swaps data quality
Emir reporting relief for ETDs causes confusion
Market participants unsure who will report client-side leg of exchange-traded derivatives trades to CCPs
Emir review could push securitisations into the dark
Subjecting deals to margin requirements would be a further blow to STS securitisation concept
Banks win concessions in battle over CCP margin models
European Commission proposal would shine light on clearing house margin charges
Esma wants more detail on CCP recovery plans
Isda AGM: regulator and industry emphasise need for effective clearing house supervision
