On 6 April 2021, the European Securities and Markets Authority (ESMA) published its final report and guidelines on reporting periodic information and material changes by trade repositories (TRs) supervised under the European Markets Infrastructure Regulation (EMIR) and the Securities Financing Transaction Regulation (SFTR).
The guidelines set out the information that should be submitted by TRs to facilitate ESMA’s ongoing supervision of TRs on a consistent basis. The guidelines are intended to streamline the periodic aspect of the information collection process, ensuring that it is fully aligned with ESMA’s supervision and its risk assessment processes. The guidelines clarify the format and frequency of the different categories of information which ESMA expects to receive in its role as supervisor of TRs registered in accordance with EMIR and/or SFTR and, hence, clarify the respective obligations of TRs in accordance with Article 55(4) of EMIR and Article 5(4) of the SFTR.
The final report summarises the feedback ESMA received to its earlier consultation on the guidelines.
The guidelines will apply from 30 June 2021. All periodic information items that have annual frequency and a reporting deadline of 31 January should, in the first year, be submitted by 30 June 2021.