Markets

12 October 2017

With reference to the upcoming entry into force of Directive 2014/65/EU (MiFID II) and Regulation (EU) No 600/2014 (MiFIR), the European Securities and Market Authority (ESMA) released a statement providing information to the various entities required to use a Legal Entity Identifier (LEI).

In this context the CSSF would like to remind that, under the new EMIR reporting requirements(1), the LEI will be mandatory as of 1 November 2017 to identify the counterparty in a derivative transaction (i.e. reporting counterparty ID) and that, in order to accept the EMIR reports, trade repositories will check the LEI of the reporting counterparty with the GLEIF database.

 

(1) Commission Delegated Regulation (EU) 2017/104 and Commission Implementing Regulation (EU) 2017/105.