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Outsourcing framework issued ahead of EMIR reporting deadline 

January 17, 2014
Richard Henderson, The Trade

Industry bodies the International Swaps and Derivatives Association (ISDA) and the Futures and Options Association (FOA) this week made available an agreement document to help market participants meet swaps reporting requirements under the European market infrastructure regulation (EMIR).

The legal document gives buy-side firms a mechanism for delegating their EMIR reporting responsibilities, which will come into force for listed and OTC derivatives on 12 February.

EMIR requires all market participants to report relevant trade data to a trade repository or if no repository is available, to regional market watchdog the European Securities and Markets Authority (ESMA). The ISDA and FOA agreement formalises the terms under which this reporting would take place between participants, such as an asset manager and a broker.

Read more: The Trade

 
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