Trades reported to EMIR TR triple, KDPW finds
11 January 2021 Poland
Image: Wojciech Zieliński/adobe.stock.com
KDPW, the Central Securities Depository of Poland, has reported a spike in the number of received trade reports relating to the European Market Infrastructure Regulation (EMIR).
EMIR imposes the obligation of reporting all derivatives to trade repositories and defines the trade repository operating framework.
The increase in trade reports from the EMIR Trade Repository (EMIR TR) operated by KDPW is said to be driven both by the acquisition of new international clients and an increase of derivatives turnover in European countries including Poland.
According to KDPW, the number of EMIR TR reports increased by 25 per cent quarter on quarter in Q4 2020.
The number of reports nearly tripled year on year in 2020, rising from 56 million to 167 million.
In May 2020, ESMA extended the registration of the KDPW Trade Repository to include trade reporting under SFTR, which imposes the obligation of reporting details of securities financing transactions (SFT) to authorised trade repositories.
KDPW launched the SFTR Trade Repository service in July 2020.
Each entity subject to the reporting obligation under EMIR and under SFTR is required to hold a legal entity identifier (LEI) used on the global financial market.
KDPW’s LEI application has been supporting automatic completion of key details of legal entities based on records in the database of the Statistics Poland (GUS) since December 2020.
The Polish CSD explains this “facilitates and accelerates clients’ process of applying for an LEI”.
EMIR imposes the obligation of reporting all derivatives to trade repositories and defines the trade repository operating framework.
The increase in trade reports from the EMIR Trade Repository (EMIR TR) operated by KDPW is said to be driven both by the acquisition of new international clients and an increase of derivatives turnover in European countries including Poland.
According to KDPW, the number of EMIR TR reports increased by 25 per cent quarter on quarter in Q4 2020.
The number of reports nearly tripled year on year in 2020, rising from 56 million to 167 million.
In May 2020, ESMA extended the registration of the KDPW Trade Repository to include trade reporting under SFTR, which imposes the obligation of reporting details of securities financing transactions (SFT) to authorised trade repositories.
KDPW launched the SFTR Trade Repository service in July 2020.
Each entity subject to the reporting obligation under EMIR and under SFTR is required to hold a legal entity identifier (LEI) used on the global financial market.
KDPW’s LEI application has been supporting automatic completion of key details of legal entities based on records in the database of the Statistics Poland (GUS) since December 2020.
The Polish CSD explains this “facilitates and accelerates clients’ process of applying for an LEI”.
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