The European Commission has adopted an Implementing Regulation that amends Implementing Regulation (EU) No.1247/2012 (the earlier Implementing Regulation) laying down implementing technical standards with regard to the format and frequency of trade reports to trade repositories according to the European Market Infrastructure Regulation.
The Implementing Regulation amends the earlier Implementing Regulation by:
- replacing article 3 with an entirely new article entitled identification of counterparties and other entities);
- inserting new articles 3a (counterparty side) and 3b (collateralisation);
- replacing article 4 with an entirely new article entitled specification, identification, and classification of derivatives; and
- inserts new articles 4a (unique trade identifier) and 4b (venue of execution).