Point Nine would like to remind clients that the 180-day transition period set by ESMA for entities to update their legacy outstanding derivatives to the EU EMIR REFIT technical standards will end on 26 October 2024.
- Trade Repositories will still accept submissions to uplift legacy outstanding derivatives to EU EMIR REFIT standards after the transition period ends. However, we strongly recommend completing these updates before the deadline to ensure full adherence to EU EMIR REFIT regulatory requirements.
- Clients must ensure that existing outstanding derivatives are upgraded to EMIR REFIT standards unless a natural lifecycle event has already updated the derivative before the specified date.
Please prioritize these updates to avoid non-compliance. For assistance, feel free to reach out to Point Nine.
