On September 26, the European Securities and Markets Authority (ESMA) published updates to two of its sets of question and answer documents (Q&As): (1) Q&As relating to the implementation of the European Market Infrastructure Regulation (EMIR); and (2) those relating to data reporting under the Markets in Financial Instruments Regulation (MiFIR).

The updated EMIR Q&A includes a clarification relating to access models at European Union central counterparties (CCPs)—specifically models aimed at facilitating buy-side or small participant access to CCPs and allowing better capital treatment for clearing members. A new item also was added to the trade repositories section of the Q&A explaining how a reporting counterparty should report a foreign exchange (FX) swap under EMIR.

The MiFIR data reporting Q&A document includes new items relating to FX swaps reporting and interest rate swaps reporting. It also clarifies how trading venues and systematic internalizers should populate certain reporting fields, and makes an amendment to an existing item relating to the total issued nominal amount reporting field.

The updated EMIR Q&A is available here.

The updated MiFIR data reporting Q&A is available here.