Meeting your EMIR Refit obligations
What is EMIR Refit?
EMIR Refit is a revision of the original EU regulation aimed at increasing the transparency and stability in over-the-counter (OTC) derivatives markets. It applies to all companies with trading activities in the European Economic Area.
The updated regulation makes key changes to a number of aspects of the EMIR reporting process. 89 additional reportable fields have been added while 15 have been removed, increasing the total number of reportable fields from 129 to 203. Changes to data formatting have also been made.
With these changes, EMIR reporting firms will need to adapt their regulatory processes to ensure they stay compliant. Pre-existing EMIR Reporting solutions will not be sufficient once the new reporting rules come into play.
How eflow can help your firm meet its EMIR Refit obligations
With TZTR, eflow will provide you with both the technology you need to manage your EMIR reporting and the expert guidance required to ensure that the switch over is as pain-free as possible.
To ensure you get compliant as quickly as possible, your dedicated account manager and analysis team will walk you through every step of the onboarding process, helping you better understand your data requirements and reporting obligations as you go.
Expert support and onboarding
Better understand your EMIR Refit requirements with full access to eflow’s customer success and support teams while we onboard you on to TZTR
Suitable for new and existing firms
Whether you already have an EMIR reporting solution in place or you’re a firm looking to report for the first time, TZTR can help you reach your compliance goals
Aligned with Global Harmonisation Standards
TZTR complies with the CPMI-IOSCO Harmonisation Group’s guidelines on critical data elements and formats reports in the fully standardised ISO20022 XML format
All 203 data fields covered
TZTR allows you to report on all 203 data fields required under EMIR Refit, including the 89 new fields added as part of this revision
Painless migration
Seamless migration from your existing EMIR reporting system to ensure zero periods of ‘regulatory downtime’
Automated reporting
Error handling, automatic submissions and field-by-field editing all included as standard
Trackable platform use
Gain insights on how your compliance team is interacting with the system and view full internal audit trails
Seamless connectivity
Digitally connected to the relevant Trade Repository for seamless report submission
Robust data validation
Automatically cross-references all records received against data from ANNA to ensure eligibility
EMIR Refit - A technical briefing note
EMIR Refit - What you need to know and what you need to do
Briefing note
As the deadline for the implementation of EMIR Refit gets ever closer, we explore the reasons behind the new regulations and what these will mean in practical terms for regulated firms.