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The EMIR and LEI Information page in Account Management lets account holders who are subject to the EMIR regulation change their EMIR election.
European Markets and Infrastructure Regulations (EMIR) is a European Union regulation designed to make the derivatives markets more transparent by requiring counterparties to derivatives transactions to report trades, positions, collateral and valuations to the European Securities and Markets Authority (ESMA), the European regulatory body. All counterparties with reporting obligations under EMIR must have a Legal Entity Identifier (LEI) in order to report.
All of our clients who are subject to the EMIR regulation will see or will have already seen the EMIR Election Form upon logging into Account Management. After you have completed the EMIR Election process, you will be granted access to the full Account Management, AND will be able to access the EMIR and LEI Information page to change your EMIR election, depending on your original EMIR election. Note that you will only see the EMIR Election Form once upon logging into Account Management; once you make your election, you will not see the form again upon subsequent Account Management logins.
All of our entities’ clients established in the European Union operating non-individual accounts are required to comply with EMIR. In this context, non-individual means any account which is owned by one or two individuals as stated in the account title. Individual accounts in the name of a single person are not subject to EMIR and so will not have access to this page.
The following account structures established in the European Union ARE subject to EMIR:
If you are subject to the EMIR regulations and have not already made your EMIR election, when you log into Account Management, you will be prompted to do so.
If you have an IBUK account; or an IBUK sub, client or linked account, you can elect to:
If you do not have an IBUK account; or an IBUK sub, client or linked account, but are still subject to the EMIR regulation, you can elect to:
This page allows account holders who have already made an EMIR election to change their election.