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]
Transition to the new EMIR TS on reporting
a) Will the counterparties be obliged to submit reports to update the old outstanding trades upon the application date of the revised technical standards? If so, will those reports have to be submitted in accordance with the revised standards?
b) How will the reports related to old outstanding trades be validated?
c) How the counterparties should report updates related to the outstanding complex derivatives, in the case where they were reported in one report with a single UTI but would be expected to be decomposed and reported in more than one report under the revised rules?
d) Are the expired trades expected to be updated? If so, how will the reports relating to the expired trades be validated?
TR Answer 44