Following the publication of EMIR Refit, as of June 18, 2020, financial counterparties (FCs) will be legally liable for the timely and accurate reporting of over-the-counter (OTC) derivatives contracts on behalf of both themselves and their non-financial counterparty minus (NFC-) clients. This requirement raises several operational challenges and points to be considered by both FC and NFC- entities.
This document captures some of these operational considerations and potential steps FCs and NFCs may need to take (as identified by the ISDA Data and Reporting EMEA Working Group) in order to adhere to this EMIR Refit requirement.
Documents (1) for EMIR Refit: FCs Reporting on Behalf of Both Itself and NFC- Clients: Operational Considerations
Latest
CDS Market Dynamics: Record 2025
Global credit default swap (CDS) market activity reached a record $41.8 trillion in 2025, surpassing the previous peak of $38.7 trillion in 2022. Index CDS drove the increase, accounting for 93.3% of total activity and reaching a record $39.0 trillion....
ISDA Letter to CFTC on Public Interest Determinations for Event Contracts
On July 27, ISDA submitted a letter to the U.S. Commodity Futures Trading Commission (CFTC) on the CFTC’s proposed rulemaking on public interest determinations for event contracts published in the Federal Register on June 12, 2026. ISDA emphasized the importance...
ISDA Letter to BCBS on RMA Models
On July 24, ISDA wrote to the Basel Committee on Banking Supervision (BCBS) to request guidance on how the proposed Risk Mitigation Accounting (RMA) model under International Financial Reporting Standard (IFRS) 9/IFRS 7 should be treated for prudential regulatory capital...
US Treasury Repo Clearing Indicators June 2026
The ISDA-Actrix US Treasury Repo Market Clearing Indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, a key objective of the Securities...