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The dust is beginning to settle after the passing of the EMIR trade reporting deadline and many of our sell-side clients are getting to grips with the initial teething issues around data flows and data quality.
Of course, in Europe, this is only the first step on the road to far more comprehensive reporting and monitoring. Given the scale of work that has been needed to get ready for 12th February, it’s unsurprising that many firms, especially on the buy-side, have not yet taken a detailed look at the mid- to long-term additional requirements and associated challenges.
Today, some of the difficulties we’ve heard about for firms reporting have included proper establishment of LEIs, alignment on generation of UTIs for OTC trades, technology issues with sending and receiving data, etc.
As these problems are knocked down, we think that some of the future challenges that will become more apparent might include:
Our view is that many on the buy-side have been somewhat shielded from the effects of EMIR TR reporting and that as the regulations developed and evolve, these same buy-side firms could find themselves unprepared.
So, what to do? We believe key issues will include:
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Kathiravan Rajendran Associate Director of Marketing Operations at Macro Global
10 December
Scott Dawson CEO at DECTA
Roman Eloshvili Founder and CEO at XData Group
06 December
Daniel Meyer CTO at Camunda
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