On 19 December 2023, the European Securities and Markets Authority (ESMA) published a final report on proposed updates to its guidelines on position calculation under EMIR Refit. The guidelines provide clarification regarding the time of calculations, the scope of the data to be used in calculations and the calculation methodologies under the new EMIR Refit standards. The final report also clarifies the way forward for trade repositories to adopt for managing the 6-month EMIR Refit transition period.The existing ESMA guidelines (ESMA70-151-1350) that were applicable as of 3 December 2018 will be repealed on 29 April 2024 and replaced with the updated guidelines that will apply from 28 October 2024, providing for a 6-month transition period.