Adaptation of the transaction reconciliation process to the requirements of the EMIR REFIT
To ensure the highest quality of service and compliance with regulatory requirements, KDPW is working on the implementation of new functionalities of the EMIR Trade Repository system related to the entry into force of the second phase of EU Regulation No. 2022/1858 in April 2026.
The planned modifications are related to changes in the data reconciliation process to enable the reconciliation of an additional 61 fields, as set out in Table 2 of the Annex to the Regulation.
The values to be compared include, in particular, four fields relating to the daily valuation of derivatives. The implemented changes will impact the structure and content of DATREC reconciliation reports (immediate and end-of-day) made available to participants by the Trade Repository, while the auth.091 schema will remain the same as used since the entry into force of EMIR REFIT in April 2024.
Materials: Updated functional documentation of the reconciliation process was made available to participants in January 2026 in the EMIR Trade Repository (GUI) application.
Tests: The test environment and a sample EoD DATREC report with new fields were made available in the EMIR TST (GUI) application on Friday, 20 February 2026.
Roll-out*: The roll-out of the changes in the production environment is scheduled for the weekend of 25-26 April 2026.
*The original roll-out date set by ESMA in the RTS (29 April 2026) has been changed. This is due to the need for some trade repositories to roll out the changes over the weekend. Following consultations, it was agreed that the first day of the reconciliation process (phase II) will be 27 April 2026, and the roll-out will take place on the weekend of 25-26 April 2026.
