July 2013

EMIR and its impact on Swiss Corporates

EMIR also (indirectly) applies for Swiss Corporates with subsidiaries in the EU if these subsidiaries either have external derivative transactions with banks or internal trades with e.g. the Switzerland-based holding company. In fact, the Swiss holding company will not be affected by EMIR directly, but their affiliates will. To learn more about the respective requirements, please have a look at the document we have prepared exclusively for Swiss corporates (in German only).

Pictures at an exhibition ...

Our gallery is open, check out the look and feel of EMIRate.

EMIR - What banks (do not) unveil on their websites

We did some research on bank websites searching for the term 'EMIR' – it looks like EMIR hasn't arrived yet, which is quite astonishing (if not scary), taking into account that EMIR has already come into force. Not even on the websites of some of Europe's or the world's largest banks were we able to find anything regarding EMIR or the respective bank's offerings.

Click here to see what we did find. Our absolute favorite?

Nothing found for 'EMIR'. Did you mean emil?

Thank you guys; this was a really good laugh. Search result: 'My name is Emir' (# 1 of the results on the bank's website) was not bad either.

We hope that none of these banks has promised to take care of your reporting.

EMIRate and mass data

Today, we performed load tests and imported more than 20,000 trades into the EMIRate database at the same time – the upload just took a few minutes. Sorting, grouping, filtering and exporting? All a piece of cake.

First EMIRate presentation...

First EMIRate presentation today went very well. No bugs, no hiccups, just smooth. And we exchanged messages live with REGIS-TR. EMIRate is ready. Are you?

EMIR = EU + which countries?

If you are wondering whether a trade with a bank in e.g. Guadeloupe is a trade with an EU counterparty or not, there is no answer available yet. As we have just learned, ESMA will publish a paper in July (2013) in order to clarify this question.

True or false?

Beware of the nonsense. 5 typical statements heard recently, all of them pretty dangerous, not true or misleading.

Read more ...

The first ten online demos...

The first ten online demos have been arranged after just one day. This will be a busy summer. If you want to make it even busier for us, we will gladly accept your request.

EMIRate - Online Demo Request

Interested in an online demonstration of EMIRate? Please use the respective form to arrange an online meeting.

REGIS-TR – Backloading for free, but...

As we have recently learned from REGIS-TR, they will offer free backloading of transactions concluded before, on or after August 16, 2012, if the transactions are reported before the official start date. Transactions backloaded after the official start will be subject to the regular fees, i.e. as if they were new transactions.