The European Association of CCP Clearing Houses (EACH) has submitted its response to the European Securities and Markets Authority (ESMA) call for evidence on a comprehensive approach for the simplification of financial transaction reporting.
EACH Members believe that simplification and harmonisation of reporting frameworks are essential to achieving three core objectives:
- Reducing duplication and fragmentation across regimes (MiFIR, EMIR, SFTR, REMIT) while improving data quality, supervisory efficiency, and cost-effectiveness for market participants.
- Enhancing data quality and supervisory efficiency through centralised access and streamlined reporting. The shift toward single-sided reporting and a centralised EU data hub is recommended to eliminate redundant submissions, streamline access for supervisors, and lower operational costs.
- Balancing regulatory needs with operational feasibility, ensuring cost-effective compliance for market participants.
The full EACH response is available here.
