EMIR Reporting

General

The system includes a set of fields required for the EMIR reporting. The fields are available on four levels: System, Company (Legal entities and counterparties), Instrument and Transaction. For each field there is a description at the bottom of the parameters form that displays the information given in the EMIR specification document.

There is also a report in the Middle office menu called Emir report. The report is in csv format and contains all the information needed to be EMIR compliant. You can choose to report Internal deals only from CRM or also External deals.

The Emir functionality is a supplementary module that requires a separate license.

Legal entity identifier

You need to apply for a Legal entity identifier (LEI) for yourselves and all the subsidiaries (banks also if reporting external deals) that are subject for reporting. This can be done for example from https://www.ciciutility.org

System parameters

Activate EMIR functionality in the Set up menu / System parameters by setting Parameter ‘Report’ to Yes.

Enter dates in fields ‘Deal Date from’ and 'Maturity date'. Transactions matching these date selections will be included in the report.

Field ‘Tr repository’ is a free text field.

Choose if Internal, External or both should be reported.

File format decides format. Two different formats are available. EMIR-ate specific format and a default format. Enter text 'EMIR-ate' = format adapted to company EMIR-ate. Fully automation of the process possible. Any other text entered means that a default layout will be used not adapted to any specific repository.

'Is UTI required', Should UTI (Unique trade id) be mandatory for external deals? On internal deals the UTI is set automatically in the report.

'Last report date', Date fro the latest report.

'Mark as exported', Yes means that new transactions are flagged as exported and can only be reported once. No could be used when testing the report before going live, meaning that the same transaction can be reported several times.

'Number of days', Default zero, transactions with deal date today ore lower reported. If set to '-1 for example, Deals with deal date up to yesterday reported. This means that deals are reported with one day delay.

Note! The ‘Report' parameter (Yes/No) is available on all levels so it is possible to include/exclude a certain counterpart, instrument or transaction from being reported.

Portfolio codes details

New button for entering EMIR data.

Click on the ’EMIR’ button to open up the parameter settings form in Portfolio Codes Details.

Click on the ‘PRINT EMIR’ button to print all EMIR data to Excel.

‘Report' parameter (Yes/No). Choose Yes to include the company in the report

Legal entity prefix and Counterparty id prefix defines type of id used which normally is ‘LEI’ (Legal entity identifier).

Legal entity id and other Counterparty id is the LEI number

Note! It is important to choose if the company is Internal or External

Instrument data

Click on the ’EMIR’ button to open up the parameters form in Instrument data.

‘Report' parameter (Yes/No). Choose Yes to include the instrument in the report

'Product identifier' is set automatically when the report is created. If the values are entered here they will over ride the default..

Below is the description text from the parameters setting form.

Taxonomy used: Identify the taxonomy used:

U=Product Identifier [endorsed in Europe].

I=ISIN/AII + CFI .

E=Interim taxonomy

Product identifier 1:

Taxonomy = U: Product Identifier (UPI)

Taxonomy = I: ISIN or AII, 12 digits alphanumerical code

Taxonomy = E: Derivative class: CO=Commodity CR=Credit CU=Currency EQ=Equity IR=Interest Rate OT= Other

Product identifier 2:

Taxonomy = U: Blank

Taxonomy = I: CFI, 6 characters alphabetical code

Taconomy = E: Derivative type: CD= Contracts for difference FR= Forward rate agreements FU= Futures FW=Forwards OP=Option SW=Swap OT= Other

‘Underlying id’, clearing institute and Venue of exchange are used for interest derivates for example Futures.

Deal input

The ’EMIR’ button is available in Deal input for the instrument types that have to be reported, meaning all derivative transactions. Note! Only transactions with status REG can be updated in deal input. Confirmed transactions are updated in Back office – Transaction status overview.

Trading id - CFI code

All variables in the Deal input form are defaulted except the Trading id and in some special cases the CFI code.

For internal transactions CRM will automatically create an Trading id. For external transaction this field has to be filled in separately. If FX trades are downloaded from a Trading Station the Trading ID (UTI) can be delivered in the import. The UTI can also be delivered via Finastra (Misys) matching system.

The CFI codes are automatically generated for instruments that the system has support for. In special cases the CFI code can be entered manually on the transaction.

The EMIR parameters for transactions are also available for Back office, Confirm start so the Trading id can be filled in from there.

Back office

Confirm start

The EMIR parameters for transactions can be displayed from Confirm start. The trading id can be entered here.

Transaction status overview

The EMIR parameters for transactions can be displayed from Transaction status overview. The trading id can be entered here. See previous picture. Confirmed transactions can only be updated here.

Middle office – EMIR report

Click on the Printer icon (run) to create a report for all transactions according to settings in system parameters.

In field ‘Transfer_date’ you can see a list with previously reported transactions and choose to rerun one of them.

Click on button ‘PRINT EMIR (Portfolio codes) to export portfolio codes details register with Emir information to Excel.

Click on button ‘PRINT EMIR (Instrument data) to export Instrument data Register with Emir information to Excel.