European Trade Repository REGIS-TR has signed Kas Bank as a third party to report trades on behalf of market participants.
Kas Bank is the first amongst the initial wave of institutions to complete the on-boarding process. Third party institutions are preparing to start their reporting at the end of June as required by the European Market Infrastructure Regulation (EMIR).
Sikko van Katwijk, member of the Managing Board of Kas Bank, said: “We understand the significance of the new EMIR regulations and believe REGIS-TR provides us with the best solution to offer the large number of impacted organizations both within the Netherlands and beyond an automated means of reporting their derivatives trades. Enabling our customers to report their derivatives positions (OTC and regular), offers them the first opportunity to comply with the new EMIR regulations well within the tight deadline. Kas Bank will provide this service to all market parties as part of our services to accommodate investors and traders to comply with the broader EMIR regulations that will be phased in.”
Nicolas Boatwright, deputy managing director of REGIS-TR said: “By launching our test environment well in advance of the start of ESMA’s new regulations we have truly given market players the tools they need to ensure they are fully compliant with ESMA’s technical standards and this is reflected in the 250% increase in participants to our test environment in the last three months.”
REGIS-TR is jointly owned by Clearstream and Iberclear.