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How Endur Adapts to EFET eRR

Leverage eRR for Seamless EMIR and REMIT Reporting

With evolving standards like European Market Infrastructure Regulation [EMIR] and Regulation on Wholesale Energy Market Integrity and Transparency [REMIT], market participants require robust reporting mechanisms that ensure adherence to regulatory guidelines while optimizing operational efficiency. Our comprehensive solution is through the implementation of eRR (Regulatory Reporting) within Endur—a practical approach designed to streamline reporting processes and mitigate compliance risks effectively.

eRR's capabilities for Regulatory Reporting

eRR serves as a unified platform for regulatory reporting, consolidating the complexities of reporting transactions under EMIR and REMIT into a single CpML message format. This approach not only reduces operational complexity but also ensures consistency across reporting regimes. With standard filtering criteria and comprehensive transaction reporting capabilities, eRR enables market participants to identify relevant trades and report various transaction types throughout their lifecycle accurately.

This blog delves into the key features and practical implementation of eRR within the Endur, offering insights into how these capabilities can be leveraged for efficient and accurate reporting.

Unified Reporting Mechanism

Simplifies reporting by allowing market participants to use a single CpML message for EMIR and REMIT transactions, with support for ACER XML format for REMIT-specific reporting.

Standard Filtering Criteria

Ensures compliance by filtering only relevant trades, covering instruments like OTC swaps, physical forwards, and options.

Comprehensive Transaction Reporting

Supports all transaction types, including new trades, modifications, and lifecycle events, ensuring accurate reporting.

Document Processing & Enrichment

Enhances incoming messages with necessary data, handles UTI generation, and maps CpML fields for regulatory compliance.

Automated Reporting

Automates the reporting workflow, reducing errors and offering flexibility independent of specific trade repositories.

Agent Reporting

Facilitates delegated reporting for agents, allowing them to report on behalf of counterparties.

Regulatory Compliance

Adheres to ESMA and ACER standards, ensuring up-to-date compliance.

Flexibility & Scalability

Designed to scale and adapt, supporting multiple reporting formats and protocols for seamless integration.

eRR’s approach to Lifecycle Event Reporting Capabilities

Lifecycle event reporting is a critical aspect of regulatory compliance, and eRR’s approach is designed to ensure that all relevant events are captured and reported accurately.

Regulatory Reporting of Cleared Transactions

eRR manages the reporting of cleared transactions under EMIR and REMIT, ensuring that all interactions with trade repositories and databases are handled efficiently.

Data Maintenance and
Reporting

eRR requires maintaining detailed reference data, including LEI (Legal Entity Identifier) information, for all parties involved in transactions.

Exchange and Management of UTI/UPI

UTIs and UPIs are managed through data exchange between counterparties and clearing brokers, ensuring accurate lifecycle event reporting.

Daily Position Reporting

Lifecycle events affecting transaction positions are included in daily position reports, providing a comprehensive overview of positions.

Role of Agents in Reporting

eRR supports the delegation of reporting duties to agents, who can report lifecycle events on behalf of one or both counterparties.

Implementation of eRR in Endur: A Detailed Overview

Value Creed’s Endur SMEs have achieved eRR connectivity from Endur using a custom Endur Connex Gateway. The slution designed in Endur extracts the required data and converts it into CpML for EMIR and ACER KML for REMIT, enabling seamless data exchange with reporting instrunctions.

Reference Data Maintenance: Accurate and up-to-date reference data, including LEI information, is maintained within Endur.
Message Enrichment: Processes are implemented to enrich trasaction messages with the additional data required for regulatory reporting.
Filtering Criteria for Reportable Trades: ValueCreed built custom query pages dynamically modifiable outside Endur through excel add-ins to append custom criteria to automatically classify and identify reportable trades based on regulatory requirements.
Lifecycle Event Tracking: Endur tracks lifecycle events such as new trades, amendments, terminations, compressions. and confirmations, generating corresponding messages fro each event.
Automated Reportin: Workflows are developed to automatically report lifecycle events to trade respositories and regulatory authorities.
Daily Position Reporting: Endur aggregates daily positions and reports them as required, ensuring accurate and consistent reporting.

Practical Implementation of eRR in Endur

CpML Mapping

Mapping is managed within Endur using a mix of Regulatory Reporting Jurisdiction, SDR Jurisdiction Defaults tables and custom user-tables. Users have an ability to modify all three data universes leveraging custom user-data-worksheets.

Reporting a Transaction

The required reporting data can be inserted in the “reporting tab” of the trade/deal during booking. Operation Services are created to automatically report required trade changes to Trade Repository. Ad Hoc reporting is also made feasible through the Report Manager, which can generate the necessary object (CSV or FpML) for submission.

Connex Gateway

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Trans Infor Fields

These fields are configured to support regulatory and other reporting needs, ensuring that all relevant data is captured.

Confirmation

Various panels in Endur, such as the Auxiliary Panel, Confirmation Panel, and Execution Panel, are configured to complete user-experience necessary for the confirmation, execution, and auxiliary operations of a trade.

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How Endur Adapts to EFET eRR

Leverage eRR for Seamless EMIR and REMIT Reporting

eRR's capabilities for Regulatory Reporting

eRR’s approach to Lifecycle Event Reporting Capabilities

Implementation of eRR in Endur: A Detailed Overview

Practical Implementation of eRR in Endur

CpML Mapping

Reporting a Transaction

Connex Gateway

Trans Infor Fields

Confirmation