Since the beginning, the compliance with EMIR requirements has been a challenge for financial institutions and it still is. Deloitte Luxembourg has been helping the clients comply with EMIR provisions with the assistance ranging from strategic considerations to the full implementation.
Strategic organisation and operational efficiency of derivative business
Are you sure that your derivative business responds properly to your strategic objectives? Are you sure that your organisational and operational setup is optimally conceived and implemented? Are you trying to enter into a derivative business or review the current one?
If you answered “Yes” to at least one of the questions than you might want to have the assistance in:
Review of organisational and operational aspects of the derivative business
Elaboration of optimisation strategies to rationalise the derivative business
The complexity of the EMIR requirements and their evolving nature make the compliance a challenging task. In addition, the regulators are becoming less indulgent towards the firms with respect to various provisions.
If you are in doubt whether your firm fully meets EMIR obligations than it is the right time to perform the “EMIR Compliance Health Check", which comprises:
Review of the contractual setup (ISDAs, SLAs, client contracts) in view of compliance with EMIR requirements
Review of the Risk Mitigations Techniques (RMT) and Reporting processes and identification of the gaps
Definition of a remediation plan for all the gaps identified in the previous phases
Assistance in the implementation of proposed actions to ensure compliance
EMIR and the upcoming trade reporting regulations are seen as catalysts for re-engineering the regulatory reporting processes. Indeed, these pre- and post-trade reporting requirements will be embedded in day-to-day operations. They will need to be properly supported by an efficient, reliable and scalable reporting architecture and IT infrastructure.
The design of the regulatory trade reporting model should not be organized as a set of different reporting interfaces built around each regulation. It should be designed around your trade value and post-trade chain, extracting the data from spread systems and centrally consolidating it.
If you are looking for a smooth and efficient setup to ensure compliance with various reporting obligations than you might want to have the assistance in:
Identification of regulatory reporting obligations (EMIR, REMIT, MiFIR, SFTR)
Definition of reporting obligation strategy to maximize synergies of mutualisation of reporting obligations
Identification of the required data sources and relevant pieces of information
Integration of data flows into Deloitte Transaction Reporting Solutions to ensure a single point of data transfer
