The EMIR Refit introduced 89 new and amended reporting fields, a new XML schema (ISO 20022), and stricter data quality requirements. This pack gives you the implementation framework to handle it all — from field mapping to reconciliation.
Built from hands-on EMIR Refit implementations, every template and rule in this pack reflects the current ESMA reporting requirements and real-world validation challenges.
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The EMIR Refit (effective April 2024) fundamentally changed the trade reporting landscape. The shift from 129 to 203 reporting fields, the move to ISO 20022 XML format, and ESMA's new validation rules have created a significant implementation challenge for investment firms — particularly those with complex derivative portfolios or delegated reporting arrangements.
Many firms scrambled to comply with the immediate deadline, resulting in reporting setups that generate excessive rejections, reconciliation breaks, and supervisory queries. This pack provides a clean, structured implementation framework that addresses the common pain points.
Complete mapping of all 203 reporting fields to internal data sources. Covers ETD, OTC, and cleared derivatives with field-level guidance on data sourcing, transformation rules, and conditional logic.
Annotated ISO 20022 schema documentation with practical examples. Covers message types, nested structures, and the specific ESMA extensions that trip up most implementations.
Comprehensive catalogue of all ESMA validation rules, organised by field group. Includes error codes, resolution steps, and common root causes for each validation failure type.
Decision framework for selecting a Trade Repository. Compares DTCC, Regis-TR, UnaVista, and KDPW across connectivity, pricing, validation strictness, and reconciliation capabilities.
Template agreement for delegated reporting arrangements covering data provision requirements, reporting obligations, error handling procedures, and liability allocation. Ready for legal review.
Inter-TR and intra-report reconciliation procedures. Includes break classification, escalation procedures, and the reconciliation tolerance framework required under EMIR Refit.
This pack is for investment firms that are counterparties to derivative transactions and therefore subject to EMIR reporting obligations. It's particularly valuable for firms that self-report (rather than fully delegating), firms transitioning between TRs, and firms that are experiencing high rejection rates or reconciliation breaks under the new Refit regime.
Yes. The field mapping templates include specific sheets for exchange-traded derivatives, OTC bilateral, and centrally cleared OTC transactions. Conditional fields are clearly marked per product type.
Yes. Even with delegated reporting, you remain legally responsible for the accuracy of your reports. The reconciliation templates and delegated reporting agreement are specifically designed for this scenario.
The pack covers the current EMIR Refit requirements. Updates for EMIR 3.0 (active accounts, clearing thresholds) will be incorporated as implementation timelines are finalised by ESMA.