The European Securities and Markets Authority (ESMA) has published an updated version of its questions and answers paper (the Q&A) on the implementation of the European Markets Infrastructure Regulation (EMIR).

The purpose of the Q&A is to promote common supervisory approaches and practices in the application of EMIR. The content of the document is therefore aimed at EU competent authorities to ensure that in their supervisory activities their actions are converging along the lines of responses adopted by ESMA. The document should also help investors and other market participants by providing clarity on the requirements under EMIR.

The updated Q&A contains further guidance concerning trade reporting to trade repositories (TRs). Specifically the following issues are covered:

  • reporting of outstanding positions following the entry into force of EMIR (backloading);
  • codes;
  • reporting to TRs – unique transaction identifier generation;
  • reporting to TRs – empty fields;
  • reporting to TRs – buy / sell indicator for swaps;
  • access to data by the authorities;
  • trades terminated before reporting deadline; and
  • block trades and allocations.

View ESMA publishes updated EMIR Q&A, 24 October 2014