Majority of Emir derivatives reports cannot be matched, say repositories

Missing trade and entity identifiers mean up to 60% of derivatives trades reported under the Emir regime cannot be paired with their corresponding halves, say trade repositories

European repositories are warning up to 60% of derivatives trade reports entering their systems cannot be matched with their corresponding halves, leaving vast numbers of orphaned reports and a patchy picture of what is happening in derivatives markets.

Europe's trade reporting mandate requires both counterparties to a listed or over-the-counter derivatives trade to report their side of the transaction to a trade repository, which involves the submission of a counterparty's legal entity