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Data opportunity from EMIR/SFTR overlaps - Deloitte

A standard data base makes a lot of sense for counterparties, experts at Deloitte reckon

Overlaps between EMIR and SFTR offer up the opportunity of a standard database or the creation of a mutualised dataset according to Deloitte Luxembourg.

The group, which announced last year it was developing a blockchain regulatory transaction reporting solution, says there are various crossovers between the two sets of rules.

Counterparty data and margin collateral data are two of the areas Deloitte’s experts are focusing on.

“A standard data base, or the creation of mutualised data set, makes a lot of sense for counterparties,” said Kevin Demeyer, senior manager, regulatory consulting at Deloitte Luxembourg in a recent webinar.

“There is a greater need to pull information out of a data warehouse and distribute it to a counterparty, trade repository, approved reporting mechanism or national authority.”

Under EMIR all counterparties involved in trade transactions must ensure the details of any derivative contract are reported to a trade repository.

Similiarly, SFTR will require firms to report all of their repos, securities lending activities and sell/buy-back transactions to a trade repository. 

Barring any delays, Deloitte's Demeyer says SFTR reporting is set to start in the third quarter of 2018.

However, he added that there have been rumors of slippage, meaning SFTR trade reporting may not come into effect until the first quarter of 2019.

Last month European securities watchdog ESMA laid out the long-awaited final implementation details for SFTR.



This content is provided by Euromoney Seminars for informational purposes only, and it reflects the market and industry conditions and presenter’s opinions and affiliations available at the time of the presentation.