The EMIR Refit represents a significant overhaul of regulatory reporting requirements for OTC derivatives contracts and off -exchange listed derivatives. Effective from April 29, 2024, in the EU and September 30, 2024, in the UK, these changes introduce a substantial expansion of reportable attributes, emphasising reference data and the adoption of ISO20022 XML for standardised messaging.
Inaccurate reference data can disrupt the EMIR reporting workflow, leading to compliance challenges. In response to these pivotal regulatory shifts, SmartStream Reference Data Services (RDS) offers solutions to ensure firms process accurate and complete data necessary for successful reporting.
