Emir reporting questions pile up for corporates
Amid fundamental questions about the timing and scope of Europe’s new derivatives reporting rules, corporates are weighing whether to delegate the work to their dealers. But some large companies are not keen – and many banks are sitting on the fence. Fiona Maxwell reports
Banks spend a lot of time complaining about the cost of regulation, so when a new regime gives them a chance to make some money, you would expect them to grab it with both hands. In the case of delegated reporting – a service in which dealers would pass trade data to repositories on behalf of their clients – some are grabbing, some are gabbing and others are completely silent.
Only five of 15 banks contacted by Risk said they would definitely offer the new service, while three said they were
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