S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
S&P Global Offerings
Featured Topics
Featured Products
Events
Corporations
Financial Institutions
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
Corporations
Financial Institutions
Banking & Capital Markets
Economy & Finance
Energy Transition & Sustainability
Technology & Innovation
Podcasts & Newsletters
S&P Global Offerings
Featured Topics
Featured Products
Events
17 Jan 2025
BLOG — Aug 07, 2023
By Ron Finberg
From a data quality perspective, one of the big changes arriving with the EMIR REFIT in 2024 is an expansion of reconcilable fields between counterparties from 53 to 149 fields including valuation details. To view breaks between themselves and counterparties, traderepositories (TR) are providing downloadable post-submission pairing and matching reports that will include the additional fields. Other requirements of data reviews for firms under EMIR REFIT are covered in detail in section 4.29 of ESMA's Final EMIR REFIT Guidelines paper that was published in December 2022 (more on this here).
EMIR, SFTR & MIFIR Data Quality Report
Data quality was also a theme of Q2 as during the quarter, ESMA published the '2022 Report on Quality and Use of Transaction Data' which covers EMIR, SFTR and MIFIR submissions. The report provides information on how ESMA and EU NCA's are using submissions for their supervisory work and data quality issues they focus on. This information is useful for creating internal reviews of submissions and improving data quality of the reports. Some of the problems highlighted by ESMA include:
Overall, the ESMA report and others like it are useful for understanding how submission data is being reviewed in order to better prepare for improving a firm's data quality. On a separate note, Euronext Paris SA has announced that effective December 31, 2023, they will be concluding their role as a Data Reporting Services Provider (DRSP) and ceasing to provide APA/ARM Services within the EU and the UK.
S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.