EMIR mandates reporting of all derivatives to Trade Repositories (TRs).
TRs centrally collect and maintain the records of all derivative contracts. They play a central role in enhancing the transparency of derivative markets and reducing risks to financial stability.
Under EMIR, ESMA has direct responsibilities regarding the registration, supervision and recognition of TRs based outside the EU. EU-based TRs need to be authorised, and third country (non-EU) based TRs which are doing business in the EU need to be recognised by ESMA, in order for counterparties to use them for their EMIR reporting requirements.
Once registered, the TR will be supervised by ESMA in order to ensure that it complies on an on-going basis with all EMIR requirements, thereby enabling regulators to access to data and details of derivative contracts in order for them to fulfill their respective missions.
Besides supervising TRs, ESMA also acts as a standard-setter by further detailing the EMIR provisions regarding TRs.
Reporting to TRs
Documents on the minimum details of the data to be reported to TRs:
Codes should be used to identify counterparties:
A pre-legal entity identifier can be issued by any of the endorsed pre-local operating units (LOU) of the global legal entity identifier system (GLEIS).
TRs should apply validation rules to ensure that reporting is performed according to the EMIR regime, including the specifications of the Technical Standards. Please see EMIR TR Q&A 20 for more details.
Registration of TRs
Documents on the format of applications for registration of TRs
List of registered TRs (https://www.esma.europa.eu/content/List-registered-Trade-Repositories)
Regulatory Technical Standards on publicly available data and data available to authorities (http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2013:052:0033:0036:EN:PDF)
Should you need to submit a complaint about an ESMA supervised trade repository, which might not be fulfilling its obligations under EMIR, please fill in this form.
We can best investigate your complaint if we receive detailed and complete information.
The filled form should be sent to TRfirstname.lastname@example.org. In the email subject line, you should put "Complaint re: TR".