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Number of Trades Reported to EMIR Trade Repository Triples

The EMIR Trade Repository (EMIR TR) operated by KDPW has reported a significant increase in the number of received trade reports driven both by the acquisition of new international clients and an increase of derivatives turnover in many European countries including Poland.

The number of EMIR TR reports increased by 25% quarter on quarter in Q4 2020. The number of reports nearly tripled year on year in 2020, rising from 56 million to 167 million.

In H2 2020, the KDPW EMIR Trade Repository established relations with three data aggregators - clients of the trade repositories CME ETR and NEX Abide which are closing down. As a result, derivatives trades are reported the KDPW EMIR TR on behalf of nearly 200 new financial and non-financial counterparties in Cyprus, the Czech Republic, Germany, Spain, Slovakia, France, Austria, Croatia, Luxembourg and the Netherlands.

The EMIR Trade Repository service was developed by KDPW in response to EMIR which imposes the obligation of reporting all derivatives to trade repositories and defines the trade repository operating framework. KDPW has offered the service since February 2014. The service is subject to registration with the European Securities and Markets Authority (ESMA). KDPW was registered in 2013.

In May 2020, ESMA extended the registration of the KDPW Trade Repository to include trade reporting under SFTR, which imposes the obligation of reporting details of securities financing transactions (SFT) to authorised trade repositories. KDPW launched the SFTR Trade Repository service in July 2020.

Each entity subject to the reporting obligation under EMIR and under SFTR is required to hold a legal entity identifier (LEI) used on the global financial market. KDPW offers an LEI issuance service. Since December 2020, the LEI application supports automatic completion of key details of legal entities based on records in the database of the Statistics Poland (GUS), which facilitates and accelerates clients’ process of applying for an LEI.