The EMIR Refit Data Quality Calculator helps reporting entities quickly determine whether an identified error or omission in their EMIR reports should be considered “significant” and therefore notified to the NCA.
By entering just two figures, the total number of reports and the number of affected reports, the calculator automatically applies the ESMA Guidelines thresholds (Y = 20 %, X = 100) and evaluates both conditions using AND logic. The result clearly indicates whether the issue meets ESMA’s “significant” criteria and whether a Contact NCA = YES/NO outcome applies.
This tool is based on ESMA’s official “Notification to NCAs on Data Quality Issues – Significant Issue Calculator” and is designed to support firms in their EMIR Refit data-quality assessments.
EMIR Refit — Data Quality “Significant Issue” Calculator
Enter the Total Numbers (all EMIR reports in the period — last 12 months) and Affected Records. The calculator applies ESMA’s dynamic thresholds and uses AND logic.
Logic applied: Logic applied: AverageMonth = Total / 12; Ratio = Affected / AverageMonth. Condition 1: Ratio > Y% (dynamic). Condition 2: Affected > X (dynamic). Decision = AND(Cond1, Cond2).
Dynamic thresholds (ESMA):
≤ 100,000 (Y=20%, X=100) • 100,001–1,000,000 (Y=15%, X=20,000) • > 1,000,000 (Y=10%, X=150,000)
More details can be found EMIR REFIT: Notification to NCAs on Data Quality Issues
