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Esma registers two trade repositories
29 November 2013
ICE Trade Vault Europe, CME Trade Repository can be used to fulfil trade reporting obligations
CME Trade Repository
The European Securities and Markets Authority (Esma) has approved the registrations of two further trade repositories (TRs) under the European Market Infrastructure Regulation or Emir – ICE Trade Vault Europe (ICE TVEL) and CME Trade Repository (CME TR), both based in the UK.
The registration of these two TRs means that they can be used by the counterparties to a derivative transaction to fulfil their trade reporting obligations under Emir. The registrations will take effect on December 5 2013.
Following the registration of a first group of TRs on November 7 (which became effective on November 14) the reporting obligation start date for all asset classes is February 12 2014.
There are now six TRs registered in the EU, which can be used for trade reporting. Esma registered DDRL, Regis-TR, UnaVista and KDPW on 7 November and it has not received any further application for registration.
In June 2012, ICE Trade Vault US became the first swap data repository in the US to receive provisional regulatory approval from the Commodity Futures Trading Commission. Since its inception, ICE Trade Vault US has accepted more than 17 million trades.
”Since the development of ICE Trade Vault, our goal is to offer a global trade repository solution and the approval by Esma advances that vision,” said Bruce Tupper, president of ICE Trade Vault. “We look forward to serving customers with an efficient and effective offering that satisfies their global regulatory and compliance demands."
Global Investor/ISF reported recently that Esma had approved UK-based repository DTCC and Poland-based KDPW.