Regulatory Alerts2018-04-27
Added · Updated
Guidelines on transfer of data between Trade Repositories
ESMA establishes binding guidelines for Trade Repositories (TRs) registered under EMIR regarding the transfer of derivatives data, applying as of 16 October 2017. The document mandates that only the old and new TRs execute transfers via mutually agreed migration plans using standardized XML or CSV formats over secure machine-to-machine protocols with advanced encryption. Specific obligations include transferring data in a defined order during voluntary switches or TR registration withdrawals, with advance notice periods of at least six to nine months depending on participant volume, and prohibiting fees for data transfers in withdrawal scenarios.
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