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Global Regime Rewrite


ESMA’s refit of the EMIR regulatory reporting regime is now in effect, with the FCA’s refit of UK EMIR following on 30 September 2024 and ASIC and MAS on 21 October 2024. Our services are ready for the new regimes.


EMIR Refit
EMIR Refit

Global regime rewrites have drastically changed reporting requirements in the trading of derivatives contracts.


Key changes:


  • Adopting the ISO 20022 standard and an increase in reporting fields from 129 to 203.
  • Numerous new and amended fields (revised names, definitions, or both).
  • Additional counterparty data fields support: static data / trade-by-trade basis.
  • Unique Product Identifiers (UPIs) to be used in regulatory reports.
  • Firms no longer allowed to upload .CSV files to trade repositories. ESMA aims to align the submissions with SFTR requirements to ensure all entities upload ISO 20022 XML only.
  • Requirement to reconcile repository positions.

Our services have been adapted to accommodate these new requirements.


Trade Processing and Portfolio Services

OSTTRA triResolve, TradeServ, and MarkitWire will include key new functionality across rates, credit, and equities:

  • Support for Report Tracking Numbers (RTNs) and Custom Basket code
  • New Post-Trade Risk Reduction (PTRR) data support
  • Consideration of Additional Counterparty Data
  • UPI enrichment
  • UPI / ISIN reporting
  • ISO 20022 XML generation
  • Clearing workflow and reporting exceptions uplifts
  • Adoption of Global UTI for ESMA
  • Enhanced Decomposed Package Trade Reporting

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Repository Reconciliation and Validation

Our award-winning algorithmic matching technology gives you a holistic view of your data to ensure all of your trades have been reported accurately.

EMIR reporting reconciliation

For clients that report their own trades, OSTTRA triResolve will increase the number of fields in our trade, collateral, and portfolio reconciliation service in line to comply with ESMA’s added requirements for reconciliation and data tolerances.

EMIR reporting validation

For clients that delegate reporting, OSTTRA triResolve will adapt reports to meet the validation requirements specified. Obligation remains on firms to validate all reporting.

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Reporting requirements of transactions resulting from PTRR services will be updated to include the new PTRR fields.

Counterparty risk optimisation and compression

We provide a PTRR ID in each OSTTRA triReduce and triBalance proposal file. All the PTRR fields (PTRR ID, PTRR technique, PTRR service provider, and PTRR) will be populated in OSTTRA triReduce and triBalance Rates MarkitWire messages.

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Basis risk optimisation

OSTTRA Reset will retrieve and populate the appropriate UPI in our trade tickets.

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Contact our team of Global Regime Rewrite experts

To find out more about how our services are supporting EMIR requirements, or to join our Regulatory Reporting working group, please share your details and a short message and we will get in touch with you soon.

Thank you

A member of our team will contact you.