Consultation Paper |
ESMA's Guidelines on transfer of data between TRs |
31 January 2017 | ESMA70-708036281-17
Responding to this paperDate: 31 January 2017 ESMA70-708036281-17
ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they:
respond to the question stated;
indicate the specific question to which the comment relates;
contain a clear rationale; and
describe any alternatives ESMA should consider.
ESMA will consider all comments received by 31 March 2017
All contributions should be submitted online at www.esma.europa.eu under the heading 'Your input - Consultations'.
Publication of responsesAll contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA's rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA's Board of Appeal and the European Ombudsman.
Data protectionInformation on data protection can be found at www.esma.europa.eu under the heading Legal Notice.
Who should read this paperThis consultation paper may be specifically of interest to trade repositories, reporting counterparties, reporting entities and CCPs as well as of interest to trade associations.
ESMA • CS 60747 - 103 rue de Grenelle • 75345 Paris Cedex 07 • France • Tel. +33 (0) 1 58 36 43 21 • www.esma.europa.eu
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Table of ContentsExecutive Summary 5
Scope 8
Legal framework 8
Glossary of concepts and terms 9
Status quo 10
Purpose 12
Conditions of transfer of data 13
Entities involved in the transfer 13
Migration plan 14
Content of the migration plan 15
Format of the data 15
Secure machine-to-machine connection 16
Data security 16
Data completeness 17
Identification of trades subject to transfer 18
Data integrity 18
Data availability 18
Fees 19
Transfer of data 19
Recordkeeping of non-outstanding trades up to 10 years 19
Prioritisation of data to be transferred 20
Transfer of data requested by a TR participant 21
Scope of the data 21
Initiation of the process 21
Communications to authorities 22
Timeliness of the data transfer 22
Recordkeeping of the transferred data 23
Fees in the case of transfer requested by a TR participant 23
Transfer of data in the case of withdrawal of registration 24
Scope of the data to be transferred in the case of withdrawal 24
Migration plan as part of the wind-down plan 25
Withdrawal of registration requested by the TR - Article 71(1)(a) of EMIR 25
Withdrawal of registration not requested by the TR 26
Communication to authorities 27
Recordkeeping of the transferred data 28
Fees in the cases of withdrawal of registration 28
Annex I - General procedure for migration of data 30
Annex II - Procedure for migration in case of withdrawal of registration 32
Guidelines 34
Summary of questions 37
European Union published this content on 31 January 2017 and is solely responsible for the information contained herein.
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