Your reporting obligations
From 12 February 2014, both parties to a derivatives trade must report details of the trade to a trade repository. A trade repository is an entity that centrally collects details about derivatives trades in a register to which financial regulators have access for supervision purposes.
The reporting obligation covers both OTC trades and exchange-traded derivatives (ETD), for instance futures, and cleared as well as non-cleared transactions. Please note that EMIR also defines FX forwards as derivatives.
The reporting obligation applies to all parties that are registered in an EU/EEA-country – except private individuals, central banks and some public bodies.
You can report your derivatives trades yourself or delegate the task to your trade counterparty or a third party.
We can help you meet the obligations
We offer a trade reporting service to help you meet your reporting obligations. By signing up for this service, you authorise Danske Bank to report – on your behalf – all trades between you and Danske Bank, including our subsidiaries within the EU/EEA, to a trade repository.
In order for us to help you with the reporting, you must acquire a Legal Entity Identifier (LEI) for your company and inform us about it. Please go to the section about LEIs (PDF) to find more information about LEIs and how you can obtain one.
Danske Bank will report your trades to a trade repository called DTCC GTR (Depository Trust & Clearing Corporation – Global Trade Repository). Our trade reporting service includes reporting of historical trades as well, as trades existing on or after 16 August 2012 must be reported, even if they have matured or have been terminated before 12 February 2014. You can find more information on our trade reporting service in the FAQ (PDF).