The European Market Infrastructure Regulation (EMIR) requires all counterparties and central counterparties (CCPs) to report the details of any over-the-counter (OTC) derivative contracts they have concluded and of any modification of termination of the contract to a trade repository. In order to ensure transparency and allow the appropriate regulatory and supervisory bodies to fulfil their respective responsibilities and mandates, Article 81, paragraphs 1 to 3 of EMIR requires trade repositories to regularly publish aggregate data on OTC derivative positions and to grant access to the details of derivatives contracts to a certain number of clearly specified entities. Pursuant to Article 81(5) of EMIR, the European Securities and Markets Authority is required to develop draft regulatory technical standards (RTS) specifying:

  • the frequency and the details of the information to be published and made available to the entities referred to in Article 81(3); and
  • the operational standards required in order to aggregate and compare data across trade repositories and for these entities to have access to information as necessary.

The RTS were adopted on 19 December 2012 by Commission Delegated Regulation (EU) No 151/2013 (earlier Delegated Regulation).

The European Commission has now published Delegated Regulation (EU) …/… of 29.06.2017 amending Commission Delegated Regulation (EU) No 151/2013 of 19 December 2012  supplementing EMIR. This Delegated Regulation amends the RTS contained in the earlier Delegated Regulation, reflecting recent developments and experience gained in the area of trade reporting and access to data. Specifically, the amendments set out:

  • common provisions for the operational standards for aggregation and comparison of data, including common output formats; and
  • common provisions for the operational standards for access to data, including data exchange procedures between trade repositories and the competent authorities listed in Article 81(3) EMIR.

View Commission Delegated Regulation  (EU) …/… of 29.06.2017 amending Commission Delegated Regulation (EU) No 151/2013 of 19 December 2012 supplementing Regulation (EU) 648/2012 of the European Parliament and of the Council, 29 June 2017