The European Markets and Securities Authority (ESMA) has the launched a project aiming to provide a single access point to trade repositories data under the European Markets Infrastructure Regulation (EMIR).
The Trade Repositories Project will provide ESMA and the 27 National Competent Authorities (NCAs) with immediate access, through a single platform, to the 300 million weekly reports on derivatives contracts received from 5,000 different counterparties across the six European repositories.
The project, which is set to go live in 2016, will centralize and harmonize data gathering, following industry wide criticism over data quality and missing or incomplete data.
ESMA Launches Trade Repository Project
The European Markets and Securities Authority (ESMA) has the launched a project aiming to provide a single access point to trade repositories data under the European Markets Infrastructure Regulation (EMIR).