CME Group, the world's leading and most diverse derivatives marketplace, announced today that the European Securities and Markets Authority (ESMA) has approved the CME European Trade Repository as a Trade Repository (TR) under the European Market Infrastructure Regulation (EMIR).
CME Group's multi-asset European (EU) trade repository, based in London, will accept submission of trades across all mandated derivative asset classes namely interest rates, FX, credit, commodities and equities. It will accept cleared and non-cleared, bilaterally settled, over the counter and exchange-traded derivatives executed on venues anywhere in the world. The reported data will be made available to the reporting entity itself, as well as relevant regulators, supervisors and authorities.
"Trade reporting of derivatives transactions is one of the major requirements of the post-crisis G20 summit and our CME European Trade Repository will enable sell-side and buy-side clients to ensure they are fully compliant in the EU," said Jonathan Thursby, President, CME Global Repository Services. "This European addition to our existing CME Swap Data Repository in the US means that we can help our global and regional customers fully comply with multi-jurisdictional reporting."
In conjunction with its approved TR, CME Group will offer a delegated reporting service to its EU customers to comply with EMIR. By offering this service, CME Group is addressing the increasingly complex and burdensome reporting obligations its customers face by making it a straight through processing activity of the CME Group's global futures and swaps markets.
CME Group operates one of only three swap data repositories (SDR) which were authorised in November 2012 for reporting under the Dodd Frank Act in the US. The CME European Trade Repository has been built on this proven infrastructure with extensive reporting expertise, and provides a simplified, efficient and low-cost way for market participants to report trades and monitor their own risk exposure.