Dear Valued Client,
A key part of our Brexit planning and execution is the securing of the European Securities and Markets Authority (ESMA) authorization for our new EU27 Trade Repository (TR) in Ireland, DTCC Data Repository (Ireland) Plc or "DDRIE".
In this regard, we are delighted to announce both that on 1st March the European Securities and Markets Authority (ESMA) confirmed that this authorization was granted and that DDRIE is the first new TR to be successfully registered by ESMA to operate within the EU27 post-Brexit. Please see the notification here.
Please note that DDRIE will not be active until Brexit takes effect, i.e. 23.00 UTC on 29th March, assuming a hard Brexit. Clients should therefore continue to report to DTCC Derivatives Repository Plc, "DDRL", until 23.00 UTC on 29th March. ESMA authorization of DDRL will be withdrawn at this point and Financial Conduct Authority (FCA) authorization for DDRL to operate in the UK will come into effect.
In the event Brexit is delayed beyond 29th March, DDRL will remain the active ESMA authorized TR until further notice.
We are also pleased to confirm that our new DDRIE office in Dublin will be officially opening today, 4th March 2019, by the Minister of State at the Department of Finance and Public Expenditure & Reform, Michael D'Arcy TD.
Please also visit dtcc.com/brexit for more information.