Trade repositories set up under EMIR have received criticism by ESMA over reporting fees and other teething issues.
Tradeweb, MarketAxess’ Trax, Bloomberg, NEX Regulatory Reporting and TRADEcho all received APA authorisation.
Technology, data and reporting enhancements was frequently citied as areas for improvement for service providers in Global Custodian's HFA survey.
Varying rules in different jurisdictions risk confused approach to segregating assets.
The role of custodians in the ESG space will be focused on reporting data to clients.
Stringent reporting requirements are putting market participants under significant pressures.