Starting February 12, 2014, all E.U. parties to derivatives, including end-user entities that are party to intragroup/inter-affiliate derivatives, will be responsible for the reporting of trade data to a Trade Repository. These reporting requirements pertain to any entity that is established in the E.U. and is a party to an outstanding derivative contract as of August 16, 2012, even if that contract has been terminated or has matured since then. The required reports encompass more than 60 data fields including both economic and counterparty related information.

With many end users presently not prepared to comply with these requirements, and some possibly not even aware of them, Chatham Financial has unveiled three specific offerings to help these entities address these new requirements:

EMIR Reporting & Portfolio Reconciliation: This offering is ideal for companies looking for a third party to provide an end-to-end EMIR reporting solution. Chatham will complete the relevant data set, onboard the client to a Trade Repository, and then submit the required reports to that Trade Repository. In addition, Chatham will facilitate annual or quarterly portfolio reconciliation obligations, directing completion of necessary policy, documentation, and operational changes. This option provides a complete solution that requires the minimum resource commitment from the client and removes the need for hands-on bank coordination and document negotiation.
Bank Delegation Service: For companies with a lower number of trades and counterparties, this service offers coordination with the relevant banks and the negotiation and storage of delegation documents. This option greatly reduces the stresses on the company's organization.
DIY Delegation Guide: This option is aimed at end users who have the internal resources to commit to coordinating and negotiating delegation documents with bank counterparties but want guidance to ensure they receive fair terms. This guide details tails the key steps in the delegation process, provides examples of suitable delegation document language and includes consultation with Chatham Financial's EMIR experts.

"The new reporting requirements under EMIR can be quite complex, and for many businesses it makes sense to involve an outside expert who has the expertise and bandwidth to help them navigate this process," said Ryan McKee, a senior advisor in Chatham's regulatory advisory services group. "Whether it's through providing end users with the knowledge they need to report on their own or by fully outsourcing the reporting responsibilities to Chatham's team, our solutions can help companies shift the balance of energy from meeting reporting requirements to running their businesses."

These offerings are built upon Chatham's proven technology and compliance platforms, which are underpinned by more than twenty years of experience in the global derivatives markets, including in helping companies navigate reporting obligations brought on by EMIR in Europe and the Dodd-Frank Act in the U.S.