Elena Gaetini, a panelist at “The Future Of Post-Trade” event on May 22, 2017, was interviewed regarding the looming November 1 deadline for compliance with ESMA’s RTS for EMIR Article 9 Transaction Reporting.
As we’ve posted numerous times over the past few months, the changes are substantial, and firms need to implement and test all of their changes before November 1 in order to remain in compliance with EMIR reporting. There is no alternative.
Gaetini points out that, unlike ESMA Levels 1 and 2 that were implemented in 2014 and 2015, firms seem to have taken the eye off the ball in favor of MiFID II/MiFIR compliance, thus many have a steep hill to climb.
RegTek.Solutions is offering a managed service, EMIR-Ready, to give firms a platform against which they immediately can start testing their reporting platforms for compliance with the new RTS, taking off the burden of having to develop their own RTS testing infrastructure. EMIR-Ready is based on Validate.Trade, the de facto industry standard for Data Quality Surveillance (DQS) for Trade and Transaction Reporting.