Regulatory Alerts2022-06-10
Added · Updated
Commission Delegated Regulation (EU) 2022/1858 on trade repository data reconciliation and verification standards
The European Commission adopted Delegated Regulation (EU) 2022/1858 to establish regulatory technical standards for trade repositories regarding data verification, reconciliation, and Legal Entity Identifier (LEI) updates. Trade repositories are required to verify derivative reports for identity, logical integrity, and completeness, rejecting non-compliant submissions within sixty minutes. The regulation mandates specific reconciliation procedures for derivatives where both counterparties have reporting obligations, including tolerance limits for field matching and daily end-of-day reporting mechanisms. These requirements apply to trade repositories and become effective on 29 April 2024.
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