NEX Abide Trade Repository Joins Short-List of TRs Under EMIR

NEX Abide Trade Repository AB has been registered as a trade repository (TR) by the European Securities and Markets Authority (ESMA). The designation comes into immediate effect and classifies NEX as one of just eight TRs under the European Market Infrastructure Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (EMIR) regime.

Obtaining this distinction as a certified TR by ESMA represents a crucial step for NEX Abide Trade Repository. Prior to being acquired a little over a year ago, Abide Financial had already embarked on plans to become a registered TR under EMIR back in 2015.

Short-list of TRs in EU

Today’s registration followed a lengthy review of NEX’s capabilities and technical standards. Obtaining this certification also reflects an extremely rigorous process and will help allow NEX Abide Trade Repository to maintain a larger role as a TR for processing volumes of EMIR reportable transactions.

Approval by ESMA as a TR is subject to a number of technical standards which detail policies, processes, and systems that need to be in place to manage such a large collection of derivatives records. For this reason, the number of TRs remains quite low across the bloc.

NEX Abide Trade Repository is based in Sweden and covers a range of derivative asset classes – these include commodities, credit, foreign exchange (FX), equities, and interest rates. Central to its bid for registration as a TR was EMIR regulations – in particular, the regime had previously implemented provisions to improve transparency.

Additionally, EMIR legislation has also in recently years moved to establish common rules for central counterparties (CCPs) as well as for TRs with the collective aim to reduce risks associated with the over-the-counter (OTC) derivatives market.

Presently, a total of eight TRs are registered by ESMA in the EU, placing NEX Abide Trade Repository AB on a short-list for processing volumes of EMIR reportable transactions. With the new designation, NEX Abide can also Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its role as a TR, catering to counterparties in need of fulfilling their trade reporting obligations under EMIR.