Q&As

What is the UK EMIR trade reporting obligation?

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Published by a LexisNexis Financial Services expert
Published on: 04 April 2025
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What is the UK EMIR trade reporting obligation?

The trade reporting obligation under Assimilated Regulation (EU) 648/2012 (UK EMIR) is a regulatory requirement designed to increase transparency in the derivatives markets by requiring UK counterparties and central counterparties (CCPs) to report the details of any derivative contract entered into, modified or terminated to a trade repository (TR) which has been registered or recognised under UK EMIR.

Which derivatives does the trade reporting obligation apply to?

The trade reporting obligation under UK EMIR applies to all derivative contracts. This obligation is not limited to over-the-counter (OTC) derivatives but also includes exchange-traded derivatives (ETDs).

There is an exemption for intragroup transactions if:

  1. •

    at least one of the counterparties is an non-financial counterparty (NFC) or would be qualified as an NFC if it were established in the UK

  2. •

    both counterparties are included in the same consolidation on a full basis

  3. •

    both counterparties are subject to appropriate centralised risk evaluation, measurement and control procedures, and

  4. •

    the parent

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Jurisdiction(s):
United Kingdom

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