Regulatory Change

German local bank

Overall OTC derivatives regulation implementation

The client was both under pressure and under legal obligation to become compliant with the European Market Infrastructure Regulation (EMIR), specifically with regard to the clearing obligations for OTC derivatives, derivatives reporting and risk mitigation techniques

What did we do?

  • Assessed technical implementation of measures necessary to ensure timely reporting
  • This included the development of a legal framework for trade repository reporting, allowing different client groups / stakeholders to delegate their reporting obligations

What we delivered:

Solution design of a platform to accomplish the requirements of risk mitigation techniques in EMIR

Key activities involved:

Management of the onboarding process for the client to join Eurex OTC Clear IRS for direct and client clearing

Business benefits:

Compliance with EMIR regulation through the connection to a trade repository for the bank and clients, as well as becoming an indirect clearing member at LCH SwapClear

Establishment of a dedicated client clearing service for the bank’s affiliate via Eure, which in turn drove further cost optimisation and regulatory compliance across the client’s group operations