Widespread noncompliance is expected as EMIR nears

09/12/2013 | Risk.net (subscription required)

The European Market Infrastructure Regulation, which goes into effect Sunday, requires that over-the-counter derivatives trades follow an agreed-upon portfolio-reconciliation procedure, in which a counterparty compares trade terms and detects valuation differences. Some market participants say noncompliance will be "massive," but they hold out hope that regulators will allow some leeway.

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