TZTR Transaction Reporting solutions for EMIR
What is the European Market Infrastructure Regulation (EMIR)?
The European Market Infrastructure Regulation (EMIR) requires firms that trade in financial derivative contracts to file detailed reports via a Trade Repository. The original legislation was published in the wake of the 2008 financial crisis and imposes requirements to improve transparency and reduce the risks associated with the derivatives market. However, its complex provisions and technical language often make it hard for firms to fully understand their legal obligations. This confusion has been somewhat compounded by the passing of updated regulations in 2019, which are known as EMIR Refit.
EMIR applies to all UK or EU entities that enter into, modify or terminate a derivative transaction. It can also apply to non-EU counterparties when dealing with an EU entity. A wide range of data must be reported, including the counterparty’s name, country of origin or domicile, and unique identifiers. Common data is also required, including the type of contract entered, its notional value, quantity traded, settlement date and time.
The frequency of submission and volume of data that firms must report on means that EMIR reporting is often a significant, but essential, regulatory and operational burden. eflow’s TZTR module has been engineered to enable firms to automate, streamline and strengthen their EMIR reporting, allowing them to focus on other key business objectives.
How TZTR simplifies your EMIR reporting processes
TZTR enables firms to manage all aspects of their EMIR reporting obligations from a single digital platform.
The highly configurable platform automatically collates the 203 data fields required under EMIR reporting guidelines, enriches it with market data, and then submits your reports to the relevant Trade Repositories (TRs). Once the reports have been submitted, you can review feedback in the platform before ingesting the regulator’s response files. These can then be used to make field-by-field edits for resubmission.
This end-to-end process is fully automated by TZTR’s built-in workflows which strengthen the accuracy of the data being captured, while also providing a complete digital audit trail of every action taken across the platform. This not only reduces the risk of reporting errors, but simplifies the reporting of vital management information and drives operational efficiency.
A holistic regulatory approach
Quicker and more efficient processes
Improved governance
A flexible, scalable compliance tool
Tailor your platform to fit your strategy
Technology that evolves with you
‘Always on’ audit trails for complete visibility
‘Regulator ready’ reporting at the click of a button
Regulatory technology that evolves with your business
A comprehensive EMIR solution
A fully integrated transaction reporting solution for EMIR, all managed from one digital hub
Data enrichment
Automated data enrichment for all alerts and asset types from the eflow Market Data Store which curates data from more than 250 sources
Trackable platform use
Gain insights on how your compliance team is interacting with the system and view full internal audit trails
Automated reporting
Error handling, automatic submissions and field-by-field editing all included as standard
Retrospective testing
Back-test trade data to ensure robust, retrospective compliance
Seamless connectivity
Digitally connected to the relevant Trade Repository for seamless report submission
Robust data validation
Automatically cross-references all records received against the FIRDS register to ensure eligibility
Expert onboarding
Full access to eflow’s customer success team while we onboard you on to TZTR
Painless migration
Seamless migration from your existing system to ensure zero periods of ‘regulatory downtime’
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Thomas Zraunig, Information Security Officer
Our latest insights on EMIR reporting
EMIR reporting explained – What you need to know
Blog
Not sure where to start with EMIR reporting? Our blog explains the history behind the legislation, what’s involved, and how firms can ensure they remain compliant.