SmartStream Unveils Enhanced Derivatives Data Service for EMIR Refit Regulation

Leading provider of financial reference data, SmartStream Reference Data Services (RDS), has introduced an enhanced derivatives data service, which is designed to deliver in-depth insights into futures related transactions to help meet EMIR Refit reporting requirements.

The EMIR Refit initiative, with the purpose of increasing transparency in the OTC derivatives market, mitigating credit risk and reducing operational risk, will come into force in April for Europe and September for the UK.

SmartStream RDS will utilize its deep trade lifecycle expertise and highly skilled resources to provide accurate data and customised regulatory operations tailored to financial institutions, ensuring compliance with the new EMIR Refit standards.

"The main challenges posed by this regulation – include completing the numerous new reportable fields for commodity and energy derivatives. Also to protect firms from poor-quality and inaccessible data, in addition to addressing regulators' demands for increased complexity within certain commodity and energy contracts. My advice to all market participants is to be prepared and deploy the necessary technology to ensure the highest data quality to mitigate the risk of fines and reputational damage", said Linda Coffman, Executive Vice President of SmartStream RDS.