EMIR Reporting Services
The MSE has become a ‘Member’ with a recognised Trade Repository in order to fulfill the role of ‘Reporting Third Party’. The MSE itself does not participate in any derivative trading, but, through an agreement with an Appointing Counterparty, it has the responsibility to report the related contractual data to the Trade Repository on the Appointing Counterparty’s behalf.
The Appointing Counterparty is responsible for the completeness and correctness of the data submitted, on its own behalf, as well as on behalf of other corporate entity counterparties as the case may be.
The Appointing Counterparty must have a Legal Entity Identifier (LEI), which should be included in each and every trade that is reported. It is up to the Appointing Counterparty to take the necessary steps to obtain its LEI.