The changes are set to take effect for reports submitted to the Trade Repository on February 20, 2017.
Confirmation Timestamp and Confirmation Means
For all OTC markets (all markets with Common Data Field 10 (Venue of Execution) reported with value “XXXX”) Common Data Field 26 (Confirmation Timestamp) will be reported as the time the trade is registered for clearing and Common Data Field 27 (Confirmation Means) will be reported with value “E”.
For all other markets, Common Data Field 26 will be reported as blank and Common Data Field 27 will be changed and reported as “N”.
Clearing Obligation
For all OTC markets Common Data Field 28 (Clearing Obligation) will be reported as “N”.
For all other markets, Common Data Field 28 will be reported as “X”.
Option Style
For all Commodities markets, Common Data Field 56 (Option Style) will be updated to correctly reflect the contract specifications meaning that some options previously reported as Asian options instead will be reported as European options.
This message describes how Nasdaq Clearing reports derivative transactions according to EMIR and is aimed at clearing members and other reporting participants to enable them to align their reporting. Documentation on Nasdaq Clearing’s website will be updated to reflect the above changes.
Reporting under EMIR Article 9 is still subject to further guidance from the regulators and updated documentation will be provided in case of further changes to the EMIR Trade Reporting for Nasdaq Clearing.
For questions on the above or other enquiries regarding EMIR Trade Reporting for markets cleared by Nasdaq Clearing, please contact clearing@nasdaq.com or +46 8 405 6880.