ESMA’s main objective will continue to be the enhancement of the quality of data reported to trade repositories under EMIR.
Trade and transaction reporting have featured prominently in the upcoming Work Program of Europe’s supranational corporate regulator, ESMA, in 2021.
Data quality remains a key objective for ESMA when it comes to transaction reporting. The report split out ESMA’s focus and expectations under both the EMIR and STFR regimes.
For EMIR, ESMA has stated that its supervisory approach is data-driven and risk-based. In 2021, ESMA’s main supervisory objective will continue to be the enhancement of the quality of data reported to trade repositories under EMIR. ESMA will continue its implementation of the Data Quality Action Plan (DQACP), a program it launched in September 2014 to standardise and improve data received by regulators across Europe. In its Work Program, ESMA has said that the DQACP will provide accessibility, accuracy and integrity to EMIR reports, identify anomalies and allow EMIR reconciliation across European borders.
Great effort by ESMA will be undertaken over the next 12 months to ensure continuity of EMIR trade reporting from pre-Brexit to post-Brexit legal entities. It is anticipated that many firms will amend their IT infrastructure arrangements, including location and architecture. Firms are reminded to provide an uninterrupted and stable service amidst these changes. ESMA voiced concerns on firms’ general approach to IT strategy, IT system development and IT outsourcing. A warning to firms to avoid ESMA’s risk-based binoculars.
ESMA also noted it would assist in the ‘smooth winding down plans of any registered trade repository withdrawing its registration’ – a clear reference to CME’s shock announcement to leave its trade repository businesses in Europe and Australia.
With regards to the SFTR, ESMA asserted that it expects its supervisory work will focus on performing re-validations on SFTR submissions to ensure reports are in line with validation rules, assessing completeness and accuracy of SFTR Trade State and Activity reports and assessing STFR reconciliation.
Stable Trade Repository SFTR service will remain a focus in the headwinds of COVID-19 and Brexit. ESMA reminded participants to monitor resource allocation to SFTR and IT performance and capacity of the SFTR.
With regulatory change mandated in Q2/Q3 of 2020, namely cloud computing and SFTR guidelines on positions, ESMA has stated its active role as a regulator to ensure implementation.
ESMA expects to liaise with all stakeholders over the next 12 months in regards to the trade reporting regimes it oversees.
Quinn Perrott is the co-CEO and founder of TRAction who focuses on assisting clients in Europe, Asia and Australia to meet their regulatory requirements with trade and transaction reporting solutions as well as the development of the best Execution platform.
Trade and transaction reporting have featured prominently in the upcoming Work Program of Europe’s supranational corporate regulator, ESMA, in 2021.
Data quality remains a key objective for ESMA when it comes to transaction reporting. The report split out ESMA’s focus and expectations under both the EMIR and STFR regimes.
For EMIR, ESMA has stated that its supervisory approach is data-driven and risk-based. In 2021, ESMA’s main supervisory objective will continue to be the enhancement of the quality of data reported to trade repositories under EMIR. ESMA will continue its implementation of the Data Quality Action Plan (DQACP), a program it launched in September 2014 to standardise and improve data received by regulators across Europe. In its Work Program, ESMA has said that the DQACP will provide accessibility, accuracy and integrity to EMIR reports, identify anomalies and allow EMIR reconciliation across European borders.
Great effort by ESMA will be undertaken over the next 12 months to ensure continuity of EMIR trade reporting from pre-Brexit to post-Brexit legal entities. It is anticipated that many firms will amend their IT infrastructure arrangements, including location and architecture. Firms are reminded to provide an uninterrupted and stable service amidst these changes. ESMA voiced concerns on firms’ general approach to IT strategy, IT system development and IT outsourcing. A warning to firms to avoid ESMA’s risk-based binoculars.
ESMA also noted it would assist in the ‘smooth winding down plans of any registered trade repository withdrawing its registration’ – a clear reference to CME’s shock announcement to leave its trade repository businesses in Europe and Australia.
With regards to the SFTR, ESMA asserted that it expects its supervisory work will focus on performing re-validations on SFTR submissions to ensure reports are in line with validation rules, assessing completeness and accuracy of SFTR Trade State and Activity reports and assessing STFR reconciliation.
Stable Trade Repository SFTR service will remain a focus in the headwinds of COVID-19 and Brexit. ESMA reminded participants to monitor resource allocation to SFTR and IT performance and capacity of the SFTR.
With regulatory change mandated in Q2/Q3 of 2020, namely cloud computing and SFTR guidelines on positions, ESMA has stated its active role as a regulator to ensure implementation.
ESMA expects to liaise with all stakeholders over the next 12 months in regards to the trade reporting regimes it oversees.
Quinn Perrott is the co-CEO and founder of TRAction who focuses on assisting clients in Europe, Asia and Australia to meet their regulatory requirements with trade and transaction reporting solutions as well as the development of the best Execution platform.
Lucera and KGI Securities Set Out to Enhance Market Performance in Asia
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa