COMMISSION DELEGATED REGULATION (EU) YYYY/XXX

of amending Delegated Regulation (EU) No 150/2013 as regards regulatory technical standards specifying the details of the application for registration and extension of registration as a trade repository

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (1), and in particular Article 56(3) thereof,

Whereas:

(1) To ensure the high quality of the details of derivatives reported to trade repositories, trade repositories should provide information regarding any procedure they have put in place to verify the identity of the report submitting entities, the logical integrity of the sequence in which the details of the derivative are reported, and the completeness and correctness of those details. For the same reason, trade repositories should provide information regarding any procedure they have put in place to reconcile the details of each derivative report received where both counterparties have a reporting obligation. A standardised process should be specified to enable trade repositories to conduct reconciliation in a consistent manner and to reduce the risks of details of derivatives not being reconciled.