Clearstream/BME data repository signs 300 test participants
11 July 2013 | 2464 views | 0
REGIS-TR, the European Trade Repository owned by Clearstream (Deutsche Börse Group) and Iberclear (BME), has seen a significant increase in the number of participants joining their test environment, with the figure doubling during the last three months.
In the early part of 2013 roughly five participants were signing each week but currently it is nearer twenty, bringing the total number of pilot customers to above 300.
David Retana, REGIS-TR's Managing Director, believes it is primarily down to the fact that companies are realising the impact EMIR will have on their daily business and are anxious to start preparation. Retana states that: "Clients and prospects tell us that REGIS-TR is the only trade repository that has a fully-functioning test environment where customers are able to test reporting in an almost exact replication of the live environment. It was important for us to provide this service as quickly as possible for our customers so they can familiarise themselves with the processes before backloading starts. We are currently adding new features, such as the Collateral Update Message that allows customers to report collateral updates on a trade, as well as on a portfolio basis, which will complete reporting according to the ESMA Q&As".
ESMA has recently announced that the licenses are currently set to be granted from 24 September and the reporting start date has now been pushed back to 1 January 2014.
REGIS-TR is being widely followed and studied by the European derivatives community. Its focus on the European regulation, flexibility and the close support to all current participants and potential customers has ensured it is regarded as an essential link between the financial industry and the regulators' community.