London, 24 February 2014 Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, today announced that 10 of its clients are successfully using the Complete reporting solution to report OTC derivative trades under EMIR. In addition, a number of other clients are set to go-live imminently.
EMIR came into force on the 12 February and mandates a requirement to report OTC derivative trades entered into starting from 12 February 2014 and the backloading of existing trades. The backloading covers concluded derivatives contracts which were entered into before 16 August 2012 and remain outstanding on that date or those that are entered into on or after 16 August 2012.
Trayport's end to end compliance solution, Complete, is live and we believe that all clients that are already connected are successfully meeting their obligations under EMIR, including reporting 'backload' trades as well as post go-live trades.
Dan Smith, Head of Corporate Development at Trayport, said "We are pleased that so many of our clients are benefiting from using Complete. Our clients wanted a light touch, feature rich and economically viable model and that is exactly what Complete provides. It offers full real-time Straight Through Processing integration with Trading Gateway℠, connection to a number of Trade Repositories and workflow control via real-time dashboards. Complete allows them to be ready for the evolution of our markets."
To join the rapidly growing number of companies choosing to use Trayport Complete to meet their EMIR obligations please contact either your current Trayport Client Manager or Tania Griffith at firstname.lastname@example.org or +44 (0) 20 7960 5500.