On 19th December, 2019, The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association, Inc. (ISDA) and International Securities Lending Association (ISLA) published a new agreement intended to simplify reporting across different European Union regulatory regimes.
The Master Regulatory Reporting Agreement (MRRA) gives market participants an option to use a single template to help them manage regulatory obligations and provide services related to reporting under the European Market Infrastructure Regulation (EMIR) and the Securities Financing Transactions Regulation (SFTR).
The MRRA sets out common terms governing mandatory and delegated reporting of derivatives transactions under EMIR, compatible with changes introduced via EMIR Refit, as well as securities financing transactions under the SFTR. The agreement has also been drafted with a view to ensuring these terms remain effective post-Brexit.
On 6th December, 2023, the MRRA was updated to reflect certain changes to the reporting rules under EMIR REFIT, including amendments to the EMIR Reporting Annexes and Derivatives Annex.
The MRRA and Explanatory Notes (along with blacklines against the previously published version) are attached below.
Documents (6) for Master Regulatory Reporting Agreement
- Master-Regulatory-Reporting-Agreement-120623(docx) will open in a new tab or window
- Master-Regulatory-Reporting-Agreement-BLACKLINE-120623(pdf) will open in a new tab or window
- MRRA-Explanatory-Memorandum-120623(docx) will open in a new tab or window
- MRRA-Explanatory-Memorandum-BLACKLINE-120623(pdf) will open in a new tab or window
- Master Regulatory Reporting Agreement - Explanatory Notes 121919 (superseded)(pdf) will open in a new tab or window
- Master Regulatory Reporting Agreement 121919 (superseded)(docx) will open in a new tab or window
Latest
Marking a Milestone - IQ January 2025
It was a different time and a very different market, but 1985 remains a seminal year in the history of over-the-counter (OTC) derivatives – the year that ISDA was established and the very first industry standard document was published. While...
Response to FCA on SI Regime
On January 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) responded to questions from the UK Financial Conduct Authority (FCA) on the future of the systematic internalizer (SI) regime. In the response,...
Response to CSA on Clearing Obligation
On December 19, ISDA submitted a response to the Canadian Securities Administrators (CSA) consultation on proposed amendments to the clearing obligation in Canada. The CSA invited comments on the proposed amendments and on the specific question set out in Annex B...
Derivatives Regulations and Usage in Japan
Japan’s regulatory landscape has generally been supportive of derivatives use by various segments of the buy side. While there are some guidelines on the purposes for which derivatives can be used by certain entities, which are not unique to Japan,...