Reporting obligations in Europe

TraDaToR said:
http://www.reuters.com/article/2014/02/10/europe-derivatives-idUSL5N0LA3XY20140210
I am interested to hear about those trading as a company in Europe( I am not anymore ). How do you deal with this? Your broker does the reporting?
More...
Yes, just the brokers. Brokers already provide a raft of data to various regulatory bodies, this is just more of the same. Changes to computer reporting systems is the only effort hit and that's just a one off.

As for impact from the new requirements - minimal to none. It'll be years before there's any hope of putting all the bits & pieces together and even then it's virtually guaranteed there'll be no coherent big picture.

The humor is that those implementing this legislation believe their efforts will be able to prevent complex positions in derivatives being constructed which previously prevented organizations from having a complete awareness of their risk exposure. They assume it was accidental in 2008. LOL.
 
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