A Trade Repository or Swap Data Repository is an entity that centrally collects and maintains the records of

over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...

(OTC) derivatives. These electronic platforms, acting as authoritative registries of key information regarding open OTC derivatives trades, provide an effective tool for mitigating the inherent opacity of OTC derivatives markets.http://www.ecb.int/pub/pdf/other/cesrconsultationontraderepositoriesineu200910en.pdf This market infrastructure is defined and supervised in Europe by the

European Securities and Markets Authority The European Securities and Markets Authority (ESMA) is an independent European Union Authority located in Paris. ESMA replaced the Committee of European Securities Regulators (CESR) on 1 January 2011. It is one of the three new European Sup ...

(ESMA) under the European Market Infrastructure Regulation (EMIR). Similar regulatory initiatives are conducted in the United States where the

Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Act ...

(CFTC) has developed the Dodd-Frank Act regulation, under which Swap Data Repositories are regulated. The strengthening of the derivatives markets regulatory framework finds its origin in the 26 September 2009 summit in

Pittsburgh Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...

, where G20 Leaders agreed that all standardised OTC derivative contracts should be cleared through central counterparties (CCP) by end-2012 at the latest and that OTC derivative contracts should be reported to trade repositories.

References

{{Reflist EU Legislative Proposals Adoption of the regulatory and implementing technical standards for the Regulation on OTC derivatives, central counterparties and trade repositories On 19 December 2012, the European Commission has adopted nine regulatory and implementing technical standards to complement the obligations defined under the Regulation on OTC derivatives, central counterparties (CCPs) and trade. They were developed by the

European Supervisory Authorities The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union that has been in operation since 2011. The system consists of the ''European Supervisory Authorities'' (ESAs), the European Syste ...

and have been endorsed by the

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...

without modification. The adoption of these technical standards finalises requirements for the mandatory clearing and reporting of transactions, in line with the EU's G20 commitment made in Pittsburgh in September 2009.
Regulatory technical standards on the minimum details of the data to be reported to trade repositories

Regulatory technical standards specifying the details of the application for registration as a trade repository

Regulatory technical standards specifying the data to be published and made available by trade repositories and operational standards for aggregating, comparing and accessing the data
* Implementing technical standards on the minimum details of the data to be reported to trade repositories https://web.archive.org/web/20140813183506/http://ec.europa.eu/internal_market/financial-markets/docs/derivatives/121219_its_minimum-details-trade-repositories_en.pdf * Implementing technical standards specifying the details of the application for registration as a trade repository PDF https://web.archive.org/web/20140813183504/http://ec.europa.eu/internal_market/financial-markets/docs/derivatives/121219_its_details-application-trade-repositories_en.pdf

External links

The Independent Trade Repository

FX-MM Magazine

DTCC Global Trade Repository for OTC Derivatives

Trade Information Warehouse Reports

European Trade Repository

EMIR webpage at ESMA

Role of Swap Execution Facilities (SEFs) in Derivatives Trade Execution, Clearing and Reporting

KDPW_TR Trade Repository
Financial regulatory authorities Derivatives (finance)