There have been arguments on who should under the EMIR Transaction Reporting. However, this program establishes obligations on both counterparties disseminating the particulars of their derivative trades. This obligation normally covers both financial and none financial counterparties, and the conveyance should be done by both the buying and the selling parties.
What should be reported
The initiative requires the conveyance of the details of both types of derivative, that is, the over the OTC- Over The Counter derivatives and the ETD- Exchange Trade Derivatives. Whereby the OTC types are those trades and contracts whose executions do not take place in a regulated market. And there are no explicit definitions for the ETD
To whom are these claims made
This has been a challenge for many EMIR Transaction Reporting. Most of the parties involved are not aware of vividly were to make their claims. All the OTC derivative contracts and the ETD should be communicated to one of the registered trade repositories. Find the list of the registered ones under EMSA.