FIA Europe has published a report (see below) which sets out the views of the exchange-traded derivatives (ETD) industry regarding the reporting of valuations and collateral data under EMIR.
FIA Europe has worked with its members since early 2013 to interpret EMIR's reporting requirements for ETDs. Following EMIR's initial reporting start date of 12 February 2014, we turned our attention to the collateral and valuation reporting deadline 180 days later, which is 12 August 2014. This report comments on ESMA's recent Q&A document which included useful guidance on this topic, to which we have added the working group's interpretation and intended approach. Also included are two worked examples which include a statement from a client's perspective, as well as expected EMIR reporting values from both the client perspective and from the clearing member perspective.
We believe that a collaborative approach in interpreting EMIR's reporting requirements is necessary to achieve a consistent interpretation across market participants, and to ensure alignment with EMIR's ultimate objectives.
