Some companies are still struggling to comply with the newreporting requirements for derivatives trades in Europe under theEuropean Market Infrastructure Regulation (EMIR), even though amonth has passed since the Feb.12 deadline.
Companies ran into various problems as they prepared to reporttrades. Some companies encountered delays in getting the legalentity identifier (LEI) they need to start complying with EMIR orin registering with the trade repositories to which they willreport their derivatives trades. Even after companies registeredwith repositories, some experienced technical problems related tothe messages used to notify repositories of their trades.
The problems seem to have stemmed from the relatively shortamount of time companies had to meet the EMIR deadline and thepressure the compressed timeframe placed on providers like traderepositories.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
