DTCC Data Repository Ireland registers as TR in case of no-deal Brexit
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DTCC Data Repository Ireland registers as TR in case of no-deal Brexit 01 March 2019Dublin Reporter: Jenna Lomax
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The European Securities and Markets Authority (ESMA) has registered Data Repository (Ireland) as a trade repository (TR) under the European Market Infrastructure Regulation (EMIR), with effect from 1 March 2019.
The registration comes in response to a possible no-deal Brexit.
DTCC Data Repository (Ireland), based in Dublin, will cover foreign exchange, equities and interest rates asset classes.
The UK-based TR of the group will cease to be registered with ESMA on 30 March 2019.
DTCC Data Repository (Ireland) will be the TR of the group operating in the EU27.
TRs are commercial firms that centrally collect and maintain the records of derivatives contracts reported to them.
The registration of a TR means that it can be used by counterparties to a derivative transaction to fulfil their trade reporting obligations under EMIR.
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