WM Datenservice: "Emir was too fast"
Germany’s issuer of legal entity identifiers opened for business almost 12 months ago, but demand only surged in the weeks leading up to Europe’s February 12 reporting deadline
When Germany’s WM Datenservice – one of the bodies tasked with issuing the unique identifier derivatives users now need to report trade data – opened its doors to applications on April 3 last year, it expected a flood of interest from companies preparing for the 2014 arrival of mandatory reporting under the European Market Infrastructure Regulation (Emir). It received a single application – from its own company, WM Gruppe.
The pace picked up as the February 12 deadline approached, climbing from
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