The Reporting requirements under the EMIR apply to all entities involved in trading derivatives, irrespective of whether they are a financial counterparty or not. The Regulation prescribes details which must be reported. Article 9 requires all parties involved in a derivative trade to report the trade, and any modification of that trade to a registered trade repository. Trade repositories must be registered and approved by the European Securities and Market Authority. Both over-the-counter and exchange-traded contracts must be reported and there is no exemption for inter-group trades.