192. In developing draft technical standards, ESMA shall take into account international developments and standards agreed upon at Union or global level (see Article 9(6), second subparagraph, of EMIR as amended by EMIR REFIT).

193. It is proposed that the data elements related to dates and timestamps are aligned with the specifications in the CDE guidance.

4.4.1.1 Effective date

194. The CDE guidance defines the “effective date” as the date at which obligations under the OTC derivative transaction come into effect, as included in the confirmation, whereas the current RTS on reporting simply refers to the “Date when obligations under the contract come into effect” [Table 2, Field 26 of the Annex to Commission Delegated Regulation (EU) No 148/2013 of 19 December 2012 as amended by Commission Delegated Regulation No 2017/104 of 19 October 2016, supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards on the minimum details of the data to be reported to trade repositories (OJ L 52, 23.2.2013, p. 1).].

195. ESMA proposes to align the definition of Effective date to the CDE guidance by referring to the confirmation date.