Europe's corporates and smaller financial firms face a race against time to comply with new trade reporting rules
European Markets Infrastructure Regulation that requires all
firms to report their derivatives assets took effect on
February 12 and, as expected, many firms were not
financial institutions such as banks, asset managers and
insurers were relatively well set but many of the region's
corporates and smaller financial houses were left frustrated as
their last ditch efforts to ensure their compliance came to
was simple - there was not enough capacity to ensure everyone
was registered in the short time allowed.
six so-called trade repositories (TRs) with which firms could
register as a reporting entity but they simply could not
process in time the massive back-logs of firms that formed in
the weeks leading up to the Emir deadline.
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