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By Laurent Collet Partner, Strategy Regulatory Corporate Finance, Deloitte
The implementation of the EMIR reporting, contrary to expectations, has probably been one of the most challenging reporting issues faced by market participants over the last years.
Buy side and sell side financial participants, as well as corporate participants, have had to take on an additional operational burden mainly due to the unexpected complexity of transposing roughly 80 transaction fields into Trade Repositories on a daily basis. The market players have not been accustomed to these daily reporting obligations, which have been further impeded by the grey area around key reporting fields. The possibility of delegating the reporting to sell side brokers has...
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