ESMA issues statement on derivatives reporting upon ‘no deal’ Brexit

ESMA has published information on how derivatives data that must be reported under EMIR should be handled in the event of a ‘no deal’ Brexit.

ESMA’s statement sets out expectations in relation to:

  • reporting by CCPs and counterparties;
  • reconciliation and recordkeeping by trade repositories;
  • portability and aggregation by trade repositories; and
  • timeline for completion of relevant adjustments by European trade repositories.