Table of Contents
Questions and Answers - Implementation of the Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) (ESMA70-1861941480-52) (updated 2 February 2024)1. Background2. Purpose3. Status4. Questions and answers (updated 2 February 2024)General Questions [Last update: 15 July 2019]General Question 1: Funds, counterparties [Last update: 12 July 2018. This version is applicable until 17 June 2020]General Question 1: Funds, counterparties [Last update: 15 July 2019, this version shall apply from 18 June 2020]General Question 2: Principal-to-principal model [Last update: 5 August 2013]General Question 3: Status of counterparties covered by AIFMD [last update 21 May 2014]General Question 4: Authorised or registered AIFMs [last update 21 May 2014]Part I: OTC Derivatives [Last update: 19 November 2021]OTC Question 1: Definition of OTC Derivatives [last update 21 December 2020]OTC Question 2: Procedure for FC and NFC to notify that they exceed or no longer exceed clearing threshold [last update 2 October 2019]OTC Question 3: Calculation of the clearing threshold [last update 19 November 2021]OTC Question 4: Responsibility for the status of counterparties [last update 2 October 2019]OTC Question 5: Timely confirmation [last update 5 August 2013]OTC Question 6: Intragroup transactions [last update 10 July 2017]OTC Question 7: Public Register [last update 21 May 2014]OTC Question 8: Reporting of unconfirmed trades for more than 5 business days [last update 4 June 2013]OTC Question 9: Notional amounts [last update 2 October 2019]OTC Question 10: Hedging definition [last update 19 November 2021]OTC Question 11: Portfolio Compression [last update 4 June 2013]OTC Question 12: Risk Mitigation techniques for OTC derivative contracts not cleared by a CCP [last update 20 March 2014]OTC Question 13: Status of entities not established in the Union [last update 2 October 2019]OTC Question 14: Portfolio Reconciliation [last update 20 December 2013]OTC Question 15: Dispute Resolution [last update 5 August 2013]OTC Question 16: Pension Scheme exemption from the clearing obligation [last update 31 March 2015]OTC Question 17: Frontloading requirement for the clearing obligation [last update 15 July 2019]OTC Question 18a: Indirect clearing [last update 11 February 2014]OTC Question 18b: Indirect clearing [Last update 14 December 2017, applicable from 3 January 2018]OTC Question 19: Classification of non-EU Central Banks [last update 21 May 2014]OTC Question 20: Clearing obligation [last update 2 October 2019]OTC Question 21: Responsibility [last update 31 March 2015]OTC Question 22: Conditions [last update 31 March 2015]OTC Question 23: Effect on existing trades [last update 31 March 2015]OTC Question 24: Categories of counterparties [last update 2 June 2016]OTC Question 25: Clearing start date for Category 3 and 4 [last update 28 May 2019, applicable from 17 June 2019]Part II: CCPs [Last update: 7 January 2020]CCP Question 1: Most relevant currencies for the determination of participation in a college [last update 20 March 2013]CCP Question 2: Collateral requirements and recording of client assets [last update 20 March 2013]CCP Question 3: Default management [last update 4 February 2016]CCP Question 4: Deposit of financial instruments [last update 5 August 2013]CCP Question 5: Review of models, Stress-testing and back-testing [last update 20 March 2013]CCP Question 6: Authorisation of a CCP [last update 31 March 2015]CCP Question 7: Capital [last update 4 June 2013]CCP Question 8: Segregation and portability [last update 31 March 2015]CCP Question 9: Margin requirements [last update 3 December 2018]CCP Question 10: Outsourcing [last update 4 June 2013]CCP Question 11: Investment Policy [last update 11 February 2014]CCP Question 12: Default Fund [last update 11 February 2014]CCP Question 13: Organisational requirements [last update 21 May 2014]CCP Question 14: Definitions [last update 5 August 2013]CCP Question 15: Allocation of additional resources [last update 5 August 2013]CCP Question 16: Transparency [last update 11 February 2014]CCP Question 17: Limited exposures of Clearing Members [last update 11 February 2014]CCP Question 18: Use of margins posted by non-defaulted Clearing Members [last update 11 February 2014]CCP Question 19: Application of the exemptions to Title IV of EMIR [last update 11 February 2014]CCP Question 20: Risk Committee [last update 21 May 2014]CCP Question 21: Prudential Requirements [last update 21 May 2014]CCP Question 22: Ongoing monitoring of collateral requirements [last update 2 October 2017]CCP Question 23 - Access model [Last update 7 January 2020]Part III: Trade repositories [Last update: 23 March 2023]TR Question 1: Classification of financial instruments [last update 24 September 2020]TR Question 2: TR registration [last update 20 March 2013]TR Question 3a: Reporting of collateral [Last update: 14 December 2017, this version shall apply from 1 November 2017]TR Question 3b: Reporting of valuations [last update 21 September 2021]TR Question 4: Reporting of outstanding positions following the entry into force of EMIR (Backloading) [last update 15 July 2019]TR Question 5: Exchange traded derivatives [last update 1 November 2017]TR Question 6: Reporting to TRs: Cleared trades [last update 1 November 2017]TR Question 7: Reporting to TRs: Avoidance of duplication [last update 15 July 2019]TR Question 8: Reporting to TRs: delegation [last update 1 November 2017]TR Question 9: Reporting to TRs: Table of fields [last update 23 March 2023]TR Question 10: Codes [last update 1 November 2017]TR Question 11: Frequency of reports [last update 8 July 2020]TR Question 12: Field "Maturity" [last update 29 May 2018]TR Question 13: Intragroup transactions [last update 15 July 2019]TR Question 14: Transactions within the same legal entity [last update 2 October 2019]TR Question 15: Subsidiaries of non-EU entities [last update 5 August 2013]TR Question 16: Collateral portfolio code [last update 1 November 2017]TR Question 17: Position level reporting [last update 2 October 2019]TR Question 18: Reporting to TRs: UTI constructionTR Question 19: Reporting to TRs: UTI generationTR Question 20a: Reporting to TRs: Empty fieldsTR Question 20b: Reporting to TRs: Validations of EMIR reportsTR Question 21: Reporting to TRs: UPI taxonomyTR Question 22: Reporting to TRs: Venues with AII codesTR Question 23: Reporting to TRs: AII code [last update 1 November 2017]TR Question 24: Reporting to TRs: Buy/Sell indicator for swaps [last update 14 December 2017]TR Question 25: Reporting to TRs: Decimal values in fields 15 and 16TR Question 26: Reporting to TRs: Complex ContractsTR Question 27: Reporting to TRs: 'Leg 1' and 'Leg 2' fields [last update 11 February 2014]TR Question 28: Reporting to TRs: Underlying field [last update 29 May 2018]TR Question 29: Reporting to TRs: Field 15 for NFCTR Question 30: Reporting to TRs: MIC codesTR Question 31: Reporting to TRs: Exchange rate [last update 1 November 2017]TR Question 32: Reporting valuations of swaps on structured products [last update 1 November 2017]TR Question 33: Collateralisation field [last update 1 November 2017]TR Question 34: Contracts with no maturity date [this version shall apply from 1 November 2017, Last update: 04 February 2019]TR Question 35: Notional Amount field [last update 1 November 2017]TR Question 36: OTC Derivatives Novations [last updated: 28 May 2019]TR Question 37: Access to Data by the authorities [last update 20 May 2021]TR Question 38: Trades terminated before reporting deadline [Last update: 4 February 2019]TR Question 39: Block trades and allocations [last update 24 October 2014, this version shall apply until 17 June 2020]TR Question 39: Block trades and allocations [last update 24 October 2014. This version shall apply from 18 June 2020.]TR Question 40: LEI changes due to mergers and acquisitions. Up-date of identification code to LEI [Last Update 21 September 2021]TR Question 41: Reporting of notional in position reports [last update 04 February 2016]TR Question 42: Population of the field Clearing Obligation [last update 28 May 2019, applicable from 17 June 2019]TR Question 43: Trades cleared by clearing house which is not a CCP [last update 26 July 2016]TR Question 44: Transition to the new EMIR TS on reporting [Last update 15 July 2019, Paragraphs 1a to 1d of Article 9 apply from 18 June 2020]TR Question 45: Operational aspects of data access [last update 5 February 2018]TR Question 46: Reporting of energy derivatives [last update 29 May 2018]TR Question 47: Reporting of deliverable currencies [last update 29 May 2018]TR Question 48: Reporting of Effective date [last update 29 May 2018]TR Question 49: Reporting of FX swaps [last update 26 September 2018, applicable from 26 September 2019]TR Question 50: Reporting of Confirmation Means. This version shall apply from 1 November 2017. [last update 04 February 2019]TR Question 51: Reporting obligation [last update 31 March 2021]TR Question 52: Notional amount field for credit index derivatives [last update 15 July 2019]TR Question 53: Reporting of reference rates not included in Regulation (EU) 2017/105 [last update 20 May 2021]TR Question 54: Reporting of OTC derivative contracts by the FC on behalf of the NFC-pursuant to the Article 9(1a) of EMIR as amended by EMIR REFIT [last update 28 May 2020]TR Question 55: Reporting on reference entity for cerdit derivatives [last update 24 September 2020]TR Question 56: Correct population of fields ''Execution timestamp'', ''Effective date'' and ''Settlement date'' for Forward Rate Agreements [last update 24 September 2020]TR Question 57: Procedure for terminating ‘dead trades’ by TRs [last update 28 January 2021]TR Question 58: Reporting of the field ‘Delivery type’ for Credit derivatives [last update 20 May 2021]TR Question 59: Inclusion of derivatives in the Trade State Report (TSR) [last update 23 March 2023]Part IV: Reporting to TRs - Transaction scenarios [Date last updated: 21 December 2020]Part V: Reporting to TRs - ETD contracts reporting [Date last updated: 21 December 2020]ETDs Reporting Question 1: Scope of reporting [last update 21 December 2020]ETDs Reporting Question 2: Which parties have to report [last update 26 January 2024]ETDs Reporting Question 3: How should give-ups be reportedETDs Reporting Question 4: Do Partial executions have to be reported separatelyETDs Reporting Question 5: Trade ID and Transaction Reference Number [last update 1 November 2017]ETDs Reporting Question 6: How should time stamps be populated [last update 1 November 2017]ETDs Reporting Question 7: Who should report the value of collateral [last update 1 November 2017]
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TR Question 23: Reporting to TRs: AII code [last update 1 November 2017]
Article 9 of EMIR - Reporting to TRs: AII code
The approach to the reporting of AII identifier was clarified in Article 4 of the Commission Implementing Regulation (EU) No 1247/2012. Consequently, this Q&A was no longer relevant and was deleted.
TR Answer 23
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