REMIT Reporting Services and Solutions - July 2015 updated March 2016
5.3.2
Post trade events .................................................................................................................................... 22
5.3.3
Reconciliation .......................................................................................................................................... 22
5.3.4
Multiple agreements ............................................................................................................................... 23
5.4
5.4.1
Direct reporting ....................................................................................................................................... 23
5.4.2
Upload service ......................................................................................................................................... 24
5.4.3
Sending the data to an RRM ................................................................................................................... 24
5.4.4
“Full” RRM ............................................................................................................................................... 25
5.4.5
EMIR TR/RRM .......................................................................................................................................... 25
5.5
6
Different types of offering from OMPs ........................................................................................................... 23
Options available to a market participant for OMP reporting........................................................................ 25
5.5.1
Direct reporting agreements with all OMPs ........................................................................................... 25
5.5.2
Upload data from all OMPs and sent it to one or more full RRM ........................................................... 26
5.5.3
Ask OMPs to send data to full RRMs....................................................................................................... 26
5.5.4
Use an aggregated service ...................................................................................................................... 27
5.5.5
Combinations .......................................................................................................................................... 27
5.5.6
Is it possible for a market participant to become an RRM and send OMP data? ................................... 27
5.6
Keeping records of OMP activity..................................................................................................................... 27
5.7
Reconciliation.................................................................................................................................................. 28
5.8
Pros and cons of OMP approaches ................................................................................................................. 29
Meeting the full requirements – “Phase 2” ............................................................................................................ 30
6.1
Off venue reporting summarised .................................................................................................................... 30
6.1.1
“Look alike” trades .................................................................................................................................. 30
6.1.2
“Simple” trades ....................................................................................................................................... 31
6.1.3
“Complex” trades .................................................................................................................................... 31
6.1.4
The “Framework/execution” construct .................................................................................................. 31
6.1.5
Secondary transportation ....................................................................................................................... 32
6.1.6
Fundamental data reportable by market participants ........................................................................... 32
6.1.7
Backloading ............................................................................................................................................. 32
6.2
Meeting the full requirements – what are the options? ................................................................................ 33
6.2.1
Delegation ............................................................................................................................................... 33
6.2.2
Direct upload to an RRM without software ............................................................................................ 34
6.2.3
Direct sending of data to ACER ............................................................................................................... 34
6.2.4
Using software ........................................................................................................................................ 35
6.2.5
ETRM adapters ........................................................................................................................................ 35
6.2.6
Standalone software ............................................................................................................................... 37
6.3
Using a service ................................................................................................................................................ 42
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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