The European Securities and Markets Authority (ESMA) has granted full authorization to Bloomberg to operate a European trade repository.
Bloomberg Trade Repository Limited (BTRL) is set to operate the European trade repository following ESMA’s approval, allowing market participants to report trades in over-the-counter (OTC) and exchange-traded derivatives, as mandated by the European Market Infrastructure Regulation (EMIR).
The Bloomberg trade repository will also integrate with the vendor’s other systems and applications portfolio, including its regulatory reporting hub.
“This is an important milestone as Bloomberg extends its regulatory reporting capabilities in Europe and globally,” says Constantin Cotzias, CEO at BTRL. “The trade repository will expand our offering of reporting solutions and enable firms to meet their regulatory requirements while also reducing costs and mitigating risks, which is critical as the complexity and demand for trade and data reporting increases.”
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