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FAQs on transaction reporting – Question II.3.1.35

Reference to documents: Implementing regulation No. 1348/2014, Annex (Details of reportable contracts), Table 1, data field 32 Linked Transaction ID

Reporting geographical swaps across EU borders (e.g. one leg with delivery in EU, other leg with delivery out of EU).

Example:

  1. EU market participant performing geographical swap – selling in Germany, Buying in Switzerland
  2. EU market participant performing geographical swap – selling in Hungary, buying in Serbia

Possible interpretations:

  1. Only transaction with delivery in EU is reportable. Linked transaction outside EU is out of scope of REMIT. The respective EU leg is reported as a single transaction

Or

Both legs of geographical swap is reportable as linked transactions as long as one side of trade is in EU.


Answer:

In case of a geographical swap where one leg has delivery in the Union and the other leg has delivery outside the Union, only the leg with the delivery in the Union shall be reported according to Article 3(1)(a) of Commission Implementing Regulation (EU) No 1348/2014.

Last update: 26/04/2017   RSS_Icon Subscribe to this Page’s RSS