ESMA Updates EMIR Q&A 2013

On 22 October 2013, the European Securities and Markets Authority (ESMA) published an update to its EMIR Questions and Answers document.

The most recent previous update to the document occurred in August 2013.  The only part which appears to have been updated since that time is the answer to question 10(b) within the ‘Part III: Trade Repositories’ section.  The question asks “What code should be used to identify counterparties (LEIs, interim LEIs or BICs)?” for the purposes of trade reporting.  The answer clarifies that a pre-LEI issued by any of the endorsed pre-LOUs (Local Operating Units) of the Global Legal Entity Identifier System may be used.  The question also provides a link to a list of endorsed pre-LOUs.