Research European Commodity Market Regulations - Part 1

European Energy Market Regulations V3.1 REGIS-TR and TriOptima have also recently announced that they will provide portfolio reconciliation of REGIS-TR’s trade repository data with data in TriOptima’s triResolve reconciliation service for OTC derivatives as requested by their clients. DTCC DTCC’s Global Trade Repository (GTR) Service provides full coverage of all cleared and uncleared OTC derivatives products within each major asset class. Trade submissions will be supported for 100% of products traded in each asset class regardless of whether trade is electronically processed or bespoke – paper confirmed. A customer of a Repository may selectively elect to enable reporting for one or more jurisdiction/regulation that is supported by that Repository. For example, a member of the DDRL legal entity may elect to report to any combination of ODRF, HKMA, CSA, and ESMA. The above TR entities can also be registered as foreign TR in other jurisdictions, e.g. Canada and Australia. The GTR service supports a multitude of data submissions including real-time price reporting, transaction details, confirmation records, and valuation data. The GTR service provides open access to third-party providers to promote efficient reporting processes – this includes: • Electronic Execution Platforms • Confirmation Providers • Clearing Houses (CCPs) • Inter-dealer brokers • Custodians • Any other middleware providers The GTR is brought to the energy industry by EFETNet who have partnered with DTCC in the US and will offering forwarding of trades under EMIR to the repository via the eRR service. LSE UnaVista The London Stock Exchange Group has been approved by ESMA for its UnaVista platform to be a trade repository across all asset classes for both exchange traded derivatives and OTC derivatives. UnaVista also currently operates as a European Approved Reporting Mechanism (ARM) under the MiFID regime for all asset classes and markets. LSE believes that by becoming a trade repository for all asset classes across all venues, its customers will only need to connect once to meet both their EMIR and MiFID reporting requirements. As a MiFID Approved Reporting Mechanism (ARM), UnaVista already reports c1 billion multiasset transactions annually to multiple regulators, including over 300 million derivatives on behalf over 600 clients. As a hosted central utility, UnaVista will utilize its inbuilt reconciliation engine to facilitate the ESMA requirement for contract details to be reconciled before reporting to the various different trade repositories © Commodity Technology Advisory LLC and ETR Advisory Ltd, 2013, All Rights Reserved. v3.1 November 13th, 2013 29

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