Page 58 - 期货和衍生品行业监管动态（2022年12月）

期货和衍生品行业监管动态

8. construction of the Trade State Report and reconciliation of derivatives by
the TRs,

9. data access.

The final report on Guidelines, published today is accompanied by the validation

rules and the reporting instructions .

The validation rules document sets out detailed technical rules on how the TRs

should verify the completeness and accuracy of the reported data as well as the

conditions and thresholds to be applied to determine whether the values reported by

both counterparties match or not. Finally, the Validation rules document contains also

a template for notifications of reporting errors and omissions to the NCAs.

The reporting instructions contain EMIR XML messages which were updated or

newly developed based on the revised technical standards and validation rules. A fully
standardised format for reporting will eliminate the risk of discrepancies due to

inconsistent data. End-to-end reporting in ISO 20022 XML is expected to further

enhance data quality and consistency and mitigate the data integrity risks, by reducing

the need for data cleaning/normalisation and facilitate their exploitation for various

supervisory and/or economic analysis based on the changes presented by the EMIR

Refit regulation. The implemented schema sets were designed to ensure the backward

compatibility of the data reporting.

Next steps

The final report contains a detailed assessment of the feedback received to the

proposals in the consultation paper published in July 2021. ESMA will continue to

engage with the market participants with a view to clarifying any remaining doubts

and to facilitate a smooth transition to reporting under EMIR REFIT. The guidelines

will be translated and published in all EU languages. They will enter into application
on 29 April 2024.

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