EMIR & Level 2 validation rules

You report on your own? Then the so-called Level 2 validation rules, which will come into force as per November 1, 2015, will add some extra spice to your life. ESMA has instructed trade repositories not to accept any non-L2-compliant reports after November 1. And this time, this will be serious, after the first not so successful attempt with Level 1 validation rules.

It is never too late to eventually outsource this kind of burden. EMIRate-clients will of course be affected too, but they will not notice any changes. All changes will be - as usual - implemented in a way that does not affect at all the source data coming from various treasury management systems.