On June 10, the EC (European Commission) adopted the regulatory technical standards (RTS) and implemented technical standards (ITS) on reporting, data quality and data registration of trade repositories under EMIR Refit.
The European Parliament and Council now have a three-month scrutiny period to raise objections, with the option of an additional three months. Following this period, the technical standards will enter into force on the 20th day following their publication in the Official Journal of the EU.
Links to RTS and ITS include:
- Procedures for the reconciliation of data between trade repositories; for verification of compliance by the reporting counterparty or submitting entity with the reporting requirements; and for verification of the completeness and correctness of the data reported – RTS and annex;
- Details of the applications for registration and extension of registration as a trade repository – RTS;
- Minimum details of the data to be reported to trade repositories and the type of reports to be used – RTS and annex;
- Procedure for accessing details of derivatives, as well as the technical and operational arrangements for their access – RTS;
- The format for applications for registration and extension of registration as trade repositories – ITS and annex;
- The standards, formats, frequency and methods and arrangements for reporting – ITS and annex.