Extension of the service of reporting details of derivatives to the KDPW Trade Repository via KDPW_CCP according to the ESMA requirements
Following the ESMA Guidelines, KDPW_CCP has modified as of 8 March 2021 the methods of reporting ETD and OTC derivatives trades to the KDPW Trade Repository under Regulation (EU) No 648/2012 of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EMIR).
The modifications concern the reporting of ETD and OTC derivatives trades with positions in financial instruments for entities with the reporting obligation as a part of KDPW_CCP’s service of reporting derivatives trades to the Trade Repository operated by KDPW at the request of clearing members (CM) as well as the delegation of reporting via clearing members on behalf of their clients and entities concluding transactions at the request of their clients.
The modifications included:
the development of a new algorithm of issuing UTIs and TRNs for positions according to the ESMA Guidelines, valuation and collateral reporting, trade and position reconciliation;
the development of reporting modules;
software supporting the migration of previous reports to the new reporting system as well as communications with the KDPW Trade Repository.
The roll-out included the introduction of a new validation table published by ESMA on 10 September 2020, which took effect on 8 March 2021. The modifications to the reporting process do not affect participants and clients who delegated trade reporting to the KDPW Trade Repository to KDPW_CCP before 8 March 2021.