ESMA now estimates that the first trade repositories (TRs) are not likely to be registered before August 2013.

The effective date for the EMIR trade reporting obligation depends on the actual date of registration of the first TR(s). Under the EMIR regulatory technical standards (RTS), the reporting start date for interest rate and credit derivatives will be 90 days after the registration of one or more TRs for these asset classes.

ESMA's current indicative timeline set out on its webpage suggests 23 September 2013 as the reporting start date for these asset classes.