ESMA Updates EMIR Q&A, Provides Further Details on Trade Reporting

The European Securities and Markets Authority ("ESMA") issued an updated Q&A on the implementation of the European Markets Infrastructure Regulation ("EMIR"). The updated Q&A clarifies issues related to reporting to trade repositories ("TRs"), including:

• how to construct and generate Unique Trade Identifiers ("UTI");
• the reporting of empty/not available fields; and
• UPI taxonomy.

Other areas covered by the updated Q&A include OTC derivatives and CCP requirements.