ESMA Updated Validation Rules Under EMIR in relation to Field 1.30 Variation margin received.
Following the March 29th announcement on Validation Rules released by the European Securities and Markets Authority (ESMA), ESMA now removes the Validation rule (‘If field 1.21 is populated with “”U””, this field shall be left blank’) concerning field 1.30 Variation Margin Received.
“From 30 April onwards trade repositories (TRs) should not reject derivatives reports where field “Variation margin received” (1.30) is left blank for derivatives that are reported by the reporting counterparty as “Uncollateralised”. “
Point Nine has already amended Field 1.30 and no further actions will be needed on April 30th, securing continuity and accuracy for our clients.