The European trade reporting rules have been criticised by national regulators
The European Securities and Markets
Authority (Esma) proposed on Friday changes to trade reporting
rules aimed at streamlining regulators’ access to
trade repository (TR) data as well standardising data formats,
allowing regulators to compare data across trade
The regulator said in a statement on
Friday: "The current rules for TR access should be
significantly improved as currently, the comparability of data
is not sufficient."
Proposals include: standardising the
output format of trade repository data; minimum types of data
queries that need to be available for the authorities;
standardised and secure data exchange between trade
repositories and national regulators; standard frequencies for
the provision of immediate access to data; and secure
machine-to-machine connection and use of data encryption
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