Clearstream and Iberclear's repository is green-lit
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Clearstream and Iberclear's repository is green-lit 11 November 2013Luxembourg Reporter: Georgina Lavers
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REGIS-TR has been approved as a trade repository by the European Securities and Markets Authority (ESMA).
The European trade repository, owned by Clearstream and Iberclear, had comprehensive discussions with ESMA in order to verify the compliance, accuracy and completeness of REGIS-TR’s business offer before its authorisation.
David Retana, managing director of REGIS-TR, said: “Receiving the trade repository authorisation from ESMA is a key milestone for us on our journey towards being able to enable European customers to fulfil their reporting obligations in Europe, via our trade repository. The ESMA license is important in that it shows our commitment to our prospective customers and confirms REGIS-TR is fully compliant with the EMIR rules and the ESMA technical standards”.
Following authorisation from ESMA, trade reporting in REGIS-TR is currently on track to begin in February 2014.
As part of REGIS-TR’s business proposition, customers will be able to report their trades through a trade repository solution for the reporting of all their derivatives trades in the EU, as required under the European Market Infrastructure Regulation (EMIR), as well as complying with requirements stemming from other regulations such as the Market in Financial Instruments Directive (MiFID) and the regulation on wholesale energy market integrity and transparency (REMIT).
In addition to its core reporting and reconciliation service, REGIS-TR will deliver a range of services that a statement described as “well beyond” regulatory compliance, such as reconciliation services, links to exposure management solutions and third-country domestic solutions.
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