EMIR Transaction Reporting

EMIR Reporting requires both counterparties to report the details of the derivative trades to one of the Trade Repositories (TRs) no later than T+1.  Transaction details are required for both types of derivative trades – exchange traded derivatives (ETDs) and OTC derivatives.  S3’s flexible system can support multiple file formats, allowing for a seamless integration and pain-free onboarding process.  Observe and manage your submissions in our web-based dashboard and leverage our team of experts to assist with any discrepancies.

Who is required to report under EMIR?

  • EMIR requires all counterparties to report the details of any derivative contract.  
  • Two types of counterparties to a derivative contract are recognised by EMIR: 
    • Financial Counterparties (FC) – banks, investment firms, fund managers, etc.  
    • Non-Financial Counterparties (NFC) – entities not qualified as a financial counterparty
  • Each counterparty must report their leg of a trade unless one counterparty has agreed to report on the other’s behalf in a previous agreement, or if a counterparty has delegated the reporting obligation to a third party.  


What is an LEI?

  • LEI stands for Legal Entity Identifier.  It is a unique alphanumeric code used to establish a global identification system of entities that engage in financial transactions, and is used across all markets and jurisdictions.  Accurate and complete LEI codes are crucial for effective transaction reporting.


What is a UTI?

  • UTI stands for Unique Trade Identifier.  It is a unique alphanumeric code assigned to a trade to allow it to be tracked from end to end throughout the life cycle of a transaction.