The Cyprus Securities and Exchange Commission (the “CySEC”) on the 5th of February 2024 issues Circular C619 on ESMA Guidelines on transfer of data between Trade Repositories under EMIR and SFTR (ESMA 74-362-2351) (the “Circular”).
Further to the issuance of the Circular, CySEC wishes to remind the Regulated Entities* that the European Securities and Markets Authority (the “ESMA”) has published the Guidelines on transfer of data between Trade Repositories under EMIR and SFTR (the “Guidelines”) on January 05, 2024, translated in all official languages of the EU.
The Guidelines will apply in relation to:
- the reporting without duplication of details of derivatives by counterparties and CCPs under Article 9(1) of EMIR,
- the procedures for portability under Article 78(9) of EMIR,
- the transfer of derivatives between TRs at the request of the counterparties, or the entity reporting on their behalf, or in the situation where the registration of a TR has been withdrawn covered by Article 79(3) of EMIR,
- the record-keeping of details of derivatives in accordance with Article 80(3) of EMIR,
- and Article 21(2) of RTS on registration (EMIR).
The Guidelines will apply to trade repositories (the “TRs”) registered or recognised by ESMA, to national competent authorities (NCAs), and to reporting counterparties or the entities reporting on their behalf.
Further to the above, CySEC wishes to inform Regulated Entities that that the amendments to these Guidelines apply as of 3 October 2022. CySEC has adopted the Guidelines by incorporating them into its supervisory practices and regulatory approach.
Should you require any further assistance and/or clarifications regarding the relevant matter, do not hesitate to contact us.
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*Regulated Entities:
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