Jun 10, 2013
• DTCC Connection
‘Congestion’ looms for EU trade reporting
Miriam Siers, FX Week/Risk Magazine
A likely deadline of January 1, 2014 for the start of mandatory trade reporting for equities, commodities and foreign exchange in Europe could result in year-end ‘congestion’ as market par- ticipants struggle to meet their obligations under the European Market Infrastructure Regulation (Emir), market participants have warned.
Speaking during a live webinar hosted by FX Week on June 5, industry participants highlighted the challenges of beginning to report FX trades in January, given reporting is expected to begin in November for credit and rates, followed closely by the second batch of asset classes, which would include FX.
Download the Congressional Testimony: ‘Congestion’ looms for EU trade reporting