Best practices for EMIR-compliant reporting of derivatives trades have been published, by a team of large trade associations such as ISDA and EFAMA. This Excel sheet will help you nail up to 87 data points across 61 reporting fields, covering both over-the-counter and exchange-traded derivatives.
The initiative serves to erase mis-matching risks that stem from differences in how each counterparty completes the data fields. Such mis-matching on individual trades cause inefficiencies for industry participants and an unclear picture of trading activity and risk. Last year, as we noted, the European Securities and Markets Authority estimated the matching rate to be as low as 40 percent.
Dig into the file
The actual spreadsheet can be directly downloaded here, while some more background can be had from, for example, this press release by the International Swaps and Derivatives Association (ISDA).
The other bodies behind the publication of these best practices are:
• the European Fund and Asset Management Association (EFAMA),
• the European Venues and Intermediaries Association (EVIA),
• the Futures Industry Association (FIA) and
• the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA).