Trade Repositories

Trade Repositories (TRs) are registered under the onshored European Market Infrastructure Regulation (UK EMIR[1]) or onshored Securities Financing Transactions Regulation (UK SFTR[2]).  

They are responsible for centrally collecting and maintaining records of derivative and securities financing transaction (SFT) contracts from market participants. They subsequently provide authorities with direct and immediate access to the details of  contracts monitoring instances of systemic risk in those markets.

Approach to Supervision 

In line with the FCA's Approach to Supervision[3], we supervise TRs as part of a portfolio of firms[4] that share a common business model alongside Securitisation Repositories[5] (SRs). 

In September 2022, we issued the first portfolio letter [6] to all TRs in our portfolio setting out what we expect them to do to minimise risks to consumers, market integrity or competition from failures to meet regulatory requirements. 

Getting registered under UK EMIR or UK SFTR

Any TR wishing to offer services relating to UK EMIR[1] or UK SFTR[2] in the UK will need to be registered with, or recognised by, the FCA. 

Applying for a new registration 

We are currently updating our forms: In the meantime, if you want to register as a new UK-based TR, you must: 

• submit information with supporting documentation in the format according to the technical standards set out in the FCA Handbook (UK EMIR[7] and/or UK SFTR[8]) by email to [email protected].
• pay the relevant registration or extension of registration fees established in sub-paragraph (zzf) of the table in FEES 3.2.7R[9] of the FCA Handbook

More information on applying for a new registration

Your application will be assessed in accordance with the usual procedures in UK EMIR or UK SFTR. 

For details of our TR application and periodic fees, please see the relevant sections in our Handbook (FEES 3 Annex 13R[10] and FEES 4 Annex 16R[11]). 

To help firms understand their requirements, please explore our links to useful information on UK EMIR legislation[12] and UK SFTR legislation[13]. These are not intended to be a comprehensive list of relevant information and is not a substitute for firms’ own research. 

Please let us know before you submit an application for registration or recognition, by emailing: [email protected]. 

TRs that are registered under UK EMIR or UK SFTR 

The following TRs are registered to operate under UK EMIR in the UK: 

• ICE Trade Vault Europe Limited 
• LSEG Regulatory Reporting Limited 
• DTCC Derivatives Repository Plc 
• REGIS-TR UK Limited 

The following TRs are registered to operate under UK SFTR in the UK: 

• DTCC Derivatives Repository Plc 

These lists will be updated as necessary. They do not supersede the Financial Services Register. 

UK TR questions and answers (Q&As)

Ahead of the implementation of changes to the derivative reporting framework[14] under UK EMIR on 30 September 2024, we received requests for guidance from UK TRs that were specific to TR operations or how to validate certain fields in industry submitted reports.

In response, we consulted on a set of TR specific Q&As[15] intended to address the queries we received. The consultation for these Q&As closed on 25 September 2024. Feedback that we received will be incorporated into the final guidance, which we will publish via this webpage.

UK EMIR validation rules and note on EMIR reporting requirements

UK reporting counterparties and UK TRs should use the UK EMIR validation rules[16] to submit derivative transactions entered into from 11pm on 31 December 2020 onwards. These validation rules also include references to future amendments to the rules which will apply from 8 March 2021. 

We have published an updated note[17] highlighting our expectations for firms in relation to their UK EMIR reporting requirements immediately following the end of the transition period. 

UK SFTR validation rules and note on UK SFTR reporting requirements

UK SFTR reporting counterparties and UK SFTR TRs should use the UK SFTR validation rules[18] to submit securities financing transactions entered into from 11pm on 31 December 2020 onwards. 

We have published a note[19] highlighting our expectations for firms in relation to their UK SFTR reporting requirements immediately following the end of the transition period. 

Applying to withdraw registration

If you are a UK registered Trade Repository that wishes your registration to be withdrawn, please complete this form[20] and email to: [email protected] 

Contact us 

If you have any queries, please email us.