Energy traders organisation successfully reporting to UnaVista Trade Repository
- EFETnet meeting reporting requirements under EMIR since 12 February 2014
- Over 100 EFETnet customers able to report via UnaVista Trade Repository
EFETnet, the operational service organisation of European Federation of Energy Traders (EFET), is successfully live on UnaVista Trade Repository for the reporting of commodity trades. EFETnet´s customer base of over 100 users have the option to report their trades through UnaVista´s trade repository enabling them to meet their reporting requirements under EMIR. EFETnet began reporting transactions from 12 February 2014.
Under EMIR all derivatives trades, including commodities, involving EEA counterparties must be reported to an approved trade repository. The EFETnet electronic Regulatory Reporting (eRR) service is connected to UnaVista Trade Repository, using the Open Standard reporting format CpML (Commodity product Markup Language) created for the commodities market by EFET. Reporting firms have access to UnaVista’s interface to view their data, as well as dashboards that provide graphic overviews of their reports and exceptions.
Mark Husler, CEO of UnaVista said: “We are delighted that the EFETnet community is able to benefit from UnaVista’s flexible interface with advanced reporting enabling them to ensure full compliance under the new EMIR reporting regulations. We have been closely with EFETnet to enable a smooth transition to the new rules for their customers and we are pleased with the levels of matching being achieved just weeks into the implementation of the regulation.”
Hugh Brunswick, Managing Director at EFETnet said: “The cooperation with UnaVista has gone very well. Our members were able to utilise the UnaVista Trade Repository ahead of the 12 February go-live, enabling them to complete sufficient testing ahead of the 12 February go-live date."
UnaVista Trade Repository went live for EMIR ahead of schedule and received circa 10 million reports on behalf of over 2,500 counterparties with a national value of more than £370 trillion on day one.
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For further information:
Ed Clark +44 (0)20 7797 1222
Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 30 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at: www.lseg.com