UnaVista Trade Repository customers go live ahead of schedule
- UnaVista Trade Repository’s customers begin full trade reporting ahead of EMIR go-live on 12 February 2014
- UnaVista Trade Repository covers all asset classes for both exchange traded and OTC derivatives across EEA
UnaVista, part of London Stock Exchange Group, is pleased to announce that customers have gone live on its trade repository ahead of the implementation of the new European Markets Infrastructure Regulation (EMIR) reporting requirements, which come into force on 12 February 2014.
Under EMIR, all EU counterparties to a derivative trade will have to report to an approved trade repository. Following the successful completion of testing and back-loading of historic trades, dating back to August 2012 and earlier, customers are now reporting trades to UnaVista Trade Repository. Firms have the option of reporting directly to UnaVista Trade Repository or via UnaVista’s full or partial delegated reporting service. Current trade repository customers include LCH.Clearnet, which operates SwapClear, the global leader in interest rate swap clearing.
Mark Husler, CEO, UnaVista said: “We are delighted to confirm that customers have begun full trade reporting on the UnaVista Trade Repository platform ahead of the EMIR reporting requirement date of 12 February 2014. Our customers and their clients are now able to ensure compliance with their EMIR reporting obligations across all asset classes from day one. We are pleased to provide a platform which meets the needs of our clients to comply with their regulatory requirements.”
Michael Davie, CEO of LCH.Clearnet Ltd said: “We have successfully completed the necessary back-loading of over 5.8 million trades in line with the EMIR requirements and are now able, through the UnaVista Trade Repository, to achieve compliance with the EMIR trade reporting requirements ahead of the go-live on 12 February 2014.”
LSEG also offers firms an EMIR Reference Data File that covers over 11,000,000 derivative contracts across 80 global exchanges. The file includes important data required in order to report in compliance with EMIR including an engineered CFI code, contract size, commodity details, underlying ISIN and seven other fields. The data dates back to August 2012 to help firms with their back-dated reporting duties.
Customers have started using a number of LSEG’s other services to help with EMIR and other regulations, including Pre-Legal Entity Identifier (LEI) allocation and UnaVista Rules Engine. London Stock Exchange has now allocated Pre-LEIs, a required field in EMIR for the identification of entities involved in a derivatives contract, in over 85 countries on six continents. The Rules Engine allows customers to report for multiple regulations as well as EMIR. Firms can send data from multiple sources and formats, the Rules Engine then normalises, enriches and validates the data, before applying logic to determine which regulations it is suitable for. UnaVista Rules Engine is being used by customers to address multiple regulations such as EMIR, MiFID, Short-Selling, CRD IV, FATCA, AIFMD and FTT.
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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