Large corporates unconvinced by Emir reporting gift

Corporates ask for opt-out from Emir reporting changes proposed for their benefit

A change to European derivatives reporting rules meant to ease the burden for corporates could end up increasing their costs, companies are warning, prompting calls for a redraft or an opt-out.

“If there remains a small amount of trades we have to report, we will have to maintain the IT infrastructure processes. Then it is not really a big relief, it is just reporting less trades. If I automatically process every day 500 deals, or if I only have to do 15 deals, then there is no relief if I have