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Time is running out for derivatives traders 

January 24, 2014
Vanessa Macdonald, Times of Malta

Anyone who trades in derivatives – anything from currency to oil ­– has only 12 working days left in which to prepare for new regulations which mean that every single agreement or modification has to be registered within 24 hours.

And since there are as many as 139 fields to fill for each report, the amount of time this will take should not be underestimated. And although some companies might only do a number of trades every year, others do them on a daily basis.There are around 300 entities in Malta that fall under the scope of the European Market Infrastructure Regulation (EMIR).

There are only five trade depositories in the world but the Malta Stock Exchange is an agent for Regis TR in Spain so local companies, including banks and insurers, shipping companies, airlines, Enemalta and even importers, will be able to register their trades locally.

Read more: Times of Malta

 
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