Regulation (EU) No 648/2012 on OTC Derivatives, CCPs and Trade Repositories (EMIR) requires ESMA to develop draft regulatory technical standards specifying the frequency and the details of information as well as operational standards required in order to aggregate and compare data across repositories and for access to information as appropriate.
In general, ESMA considers that the current functionalities offered for access to Trade Repositories data requires a significant improvement and that comparison of data is not sufficiently robust, which requires some elements to be fixed and improved. The consultation document outlines amendments to the current rules to ensure direct and immediate access to data and aggregation and comparison of data across trade repositories.
A final report will be prepared and submitted to the Commission which has three months from the receipt of a draft regulatory technical standard by ESMA to decide whether to endorse it.
Responses should be provided by 1 February 2016.