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GLERT minus one and counting

There are now less than 24 hours to go until reporting starts, on the Go Live for Emir Reporting of Trades day. While many are ready and sending trades through to a TR regularly, even more are not. Struggles with internal systems, opening the correct accounts and switching to production will be the top of most peoples’ list today.

There are still many unresolved issues such as ETDs, UTIs, and of course working out how to represent different types of commodity trade. But the focus today for most will be to just get the upload routines to work properly, with the correct accounts. With TRs overwhelmed as well as the “LOUs” that issue LEIs, that in itself will be a challenge.

And do not forget that a large proportion of trades must be backloaded by Thursday.

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