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EMIR reporting
EMIR reporting is the duty of EU counterparties to report the details of every derivative contract they conclude, modify or end to a registered trade repository by the working day after. Since the EMIR Refit of April 2024 reports use ISO 20022 XML with about 200 fields, including transaction, product and legal entity identifiers (UTI, UPI, LEI), valuation and collateral.
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This is a brief definition. A full explanation with a worked example is being written.
Sources
Updated 31 Oct 2026.
Trade repositoryA trade repository is an entity that centrally collects and keeps records of derivatives or securities financing transactions reported by market participants, and gives regulators access to them. In the EU trade repositories are registered and supervised by the European Securities and Markets Authority (ESMA) under EMIR (derivatives) and SFTR (securities financing).
EMIR (European Market Infrastructure Regulation)The European Market Infrastructure Regulation (EMIR), Regulation (EU) No 648/2012, sets EU rules for over-the-counter derivatives, central counterparties and trade repositories. It imposes clearing of standard derivatives, risk mitigation (confirmation, reconciliation, margin) for uncleared ones and reporting of all derivatives; EMIR 3 (2024/2987) added the active account requirement.
ISO 20022ISO 20022 is the international standard for financial messages, built from a common business dictionary and usually expressed in XML. Payment messages are grouped as pain (customer to bank), pacs (bank to bank) and camt (cash management, such as statements). It is the format of SEPA, T2, CHAPS and Swift cross-border payments.
UTI (Unique transaction identifier)The unique transaction identifier (UTI) is a code, defined by ISO 23897, that identifies one reported derivative or securities financing transaction so both counterparties report it under the same reference. Rules decide which party generates the UTI and shares it in time for reporting.
UPI (Unique product identifier)The unique product identifier (UPI) is a code defined by ISO 4914 that identifies an over-the-counter derivative product type and its reference data, such as asset class, instrument type and underlier. It is issued by the Derivatives Service Bureau and is required in reporting under the European Market Infrastructure Regulation (EMIR).
Legal entity identifier (LEI)The LEI is a 20-character code under ISO 17442 that uniquely identifies a legal entity taking part in financial transactions. It links to reference data on who the entity is and, where reported, who owns it. The Global LEI Foundation (GLEIF) oversees the system.