EMIR Requirements

dinger

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I'm a director of a small limited company that was set up to invest profits from a family business. We bought a number of shares via the FXCM Platform over the last few years. Do these share purchases constitute buying Derivatives and as such are we obliged to report all our positions to a Trade Repositiry and follow EMIR guidelines? If so, we are required to apply for a Legal Entity Identifer. What is the best way to go about doing this?
 
If you physiclly bought the shares, that is not a derivative.

There are dealing thresholds in place so unless do at least €1 billion notional, you don't have to worry about it.
 
I think you are referring to Clearing thresholds which relate to the volume of trading activity that a company can do in certain Derivatives. Regardless of the volume you still have to report any derivatives to a Trade Repository or assign someone to do it on your behalf. To do this you will need a LEI I think ...I got a mail from FXCM saying that our company may be impacted by these EMIR REquirements hence my query. I would be of the opinion that share purchases would not be covered.
 
I got a mail from FXCM saying that our company may be impacted by these EMIR REquirements hence my query. I would be of the opinion that share purchases would not be covered.

Hi Dinger,

I'm FXCM's representative on online forums like Askaboutmoney.com. Should you have any additional questions about how EMIR may impact your company, please email us at complianceeurope@fxcm.com and reference your FXCM account number. A member of our Compliance department can then help you further.

Jason
 
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