Risk glossary


Trade repository

Trade repositories collect and maintain records of derivatives trades, with the aim of helping regulators monitor the build-up of systemic risk. In 2009 in Pittsburgh, Group of 20 leaders agreed that all standardised over-the-counter derivatives should be reported to trade repositories.

In the European Union, all buyers and sellers must report all derivatives deals – OTC and exchange-traded – to trade repositories.

In the US, the reporting obligation applies only to OTC derivatives and not always to both counterparties. The US equivalent of a trade repository is a swap data repository (SDR). Reportable derivatives in the US include “swaps” – defined as interest rate swaps, foreign exchange swaps and forwards, index-based credit default swaps, agricultural and commodity swaps, index-based total return swaps and all options based on a rate or commodity – and “security-based swaps”. SDRs are also used in the US for the purposes of post-trade transparency

See also Swap data reporting.

Click here for articles on trade repositories and here for articles on swap data repositories. 

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