EMIR Q&As updated by ESMA
On 4th April 2016 European Securities and Markets Authority (ESMA) has published an update of its Questions and Answers (Q&A) document regarding the implementation of the European Market Infrastructure Regulation (EMIR).
The updated document includes a new Q&A regarding the population of the “Clearing obligation” field in the trade reports. In particular, this Q&A explains how the description of the field should be interpreted, how it should be populated during the frontloading period and how long the counterparties are allowed to report value “X” (standing for “not available”).
We remind that the Q&As are currently only guidelines and are not legally binding. ESMA shall transpose the Q&As into the updated RTS.