Regulatory Reporting

Under EMIR rules, double-sided reporting requires both sides of an executed OTC contract be reported to a trade repository. How can C3 help?

C3 provides an online, intuitive, automatic and daily solution to the EMIR headache facing the ‘regulatory fatigued’ buy-side. C3 enables trade repository reporting to be viewed on one single dashboard alongside providing reconciliation of positions and online exceptions, with full audit trail.

How can C3’s EMIR Reg Rec service enable me to fulfil EMIR Regulatory obligations quickly, and economically?

  • You sign up to DTCC GTR,
  • You delegate EMIR reporting to your Prime Broker/Custodian/Utility,
  • You can then view what is reported to the GTR via the intuitive C3 Dashboard,
  • You can then send your positions to C3,
  • We receive reported positions from DTCC GTR,
  • We reconcile the positions for all the GTR products and provide online exceptions with full audit trail of user activity.

How is that a more effective solution to perhaps a spreadsheet based approach?

We pride ourselves on removing the burden of manually intensive spreadsheet-based reconciliation, as well as the risk attached to human error. C3 enables all activities to be fully traceable, with all reconciliations stored online for recall, the previous day, week, month or year.

Regulation isn’t a huge concern for us, won’t the regulators focus on the bigger operations before turning their attention to us?

By now most firms will have delegated EMIR regulatory reporting to their prime broker(s) and are fully aware that compliance responsibility remains with the delegating firm which should conduct reasonable checks to ensure accurate and timely reports are submitted. At present, you may not feel a pressing need to be compliant. However, we’re ready to support you when ESMA begins industry scrutiny.

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