Time running out to backload Emir derivatives reporting
Significant slice of legacy trades still not ready for new formats, as October 26 deadline looms
With a deadline at the end of this week, some European derivatives counterparties have struggled to update reports of legacy trades in time to meet a new regulatory standard, according to multiple sources at banks and vendors. Firms unable to meet the deadline face the risk of closer regulatory scrutiny, or even fines.
Since April 29 this year, counterparties located in the European Union had to report additional data fields for derivatives to trade repositories in line with a new version of the
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