Halfway through the Go Live of EMIR Reporting of Trades day, and several reports are coming in. The sky has not fallen in yet.
For the most part, trades are uploading reasonably to all the repositories, or so we have heard. Some have instituted a few measures in order to “stem the flow”.
The main issues seem to be around the opening of production accounts. There seem to be many who have yet to obtain their production logins and some have been told that they must wait until next week.
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There is also a great deal of confusion about the UTi format outlined in yesterday’s Q+A. is it mandatory? Will it be at some point? No one seems to know.
Let’s see how GLERT afternoon goes.
