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Version date: 5 August 2013 - onwards

TR Question 15: Subsidiaries of non-EU entities [last update 5 August 2013]

Article 9 of EMIR

Non-European subsidiaries of European entities

Does the reporting obligation apply to non-European subsidiaries of a group for which the parent undertaking is established in the European Union?

TR Answer 15

No; the reporting obligation to trade repositories applies to counterparties established in the European Union. Therefore, non-European subsidiaries are not subject to the reporting obligation. In the case of contracts between a EU counterparty and a non-EU counterparty, the EU counterparty will need to identify the non-EU counterparty in its report.