Point Nine uses cookies to monitor the performance of this website and improve user experience.

Accept

View Privacy Policy for full details.

Point Nine Left Banner Point Nine Right Banner
Back All news & events
News

EMIR Validations; Updated 8 March 2021

2021-02-17 07:02:27

The European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) in 2020 agreed to update EMIR validation rules to be in effect from 8 March 2021. The most relevant changes are based on the validation related to field 1.21 ‘Collateralization’. They will affect security reporting for 2.93 Action Type = ’New’ and 2.93 Action Type =’Valuation update’ where reporting will become Conditional instead of Optional.

New validation rules have been applied to the following fields:

  • 1.1 Reporting timestamp,
  • 1.19 Valuation timestamp,
  • 2.27 Maturity date,
  • 2.28 Termination date,
  • 2.29 Settlement date and
  • 2.82 Maturity date of the underlying are now having a validation rule which prevents sending reports where timestamps are equal or later than 2014-02-12 this should reduce the number of overreported backdated reports before the EMIR implementation.
  • 2.34 Clearing obligation,
  • 2.38 Intragroup and
  • 2.68 Interconnection Point are now validated based on the trading scenario and instrument classification.

1.24 Initial margin posted
● If field 1.21 is populated with “OC” or “FC”, this field shall be populated.
● If field 1.21 is populated with “U” or “PC”, this field shall be left blank.

1.26 Variation margin posted
● If field 1.21 is populated with “PC”, “OC” or “FC”, one of the fields 1.26 or 1.30 shall be populated (with a positive value or zero) while the other field shall be left blank or populated with zero.
● If field 1.21 is populated with “U”, this field shall be left blank.

1.28 Initial margin received
● If field 1.21 is populated with “FC”, this field shall be populated.
● If field 1.21 is populated with “OC”, this field shall be left blank.

1.30 Variation margin received
● If field 1.21 is populated with “PC”, “OC” or “FC”, one of the fields 1.26 or 1.30 shall be populated (with a positive value or zero) while the other field shall be left blank or populated with zero.
● If field 1.21 is populated with “U”, this field shall be left blank.

Tags:

    Disclaimer: The content of this website is for general information purposes only. No other use of the content is permitted without the prior written consent of Point Nine. The content of the information found on our website is not comprehensive and does not constitute legal, financial, trading or regulatory advice. Although the information provided through the website is obtained through reliable sources, cannot substitute a professional advice nor guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you. Point Nine accepts no responsibility for any loss of whatsoever and howsoever arising which might occur from reliance by any person on the content of this website.