Reporting requirements under EMIR and related confidentiality issues - Amendments to PSO and DC Contracts.

The EU's European Market Infrastructure Regulation (EMIR) has introduced a number of obligations on market participants.

In October 2013 the relevant Master Contracts for Difference Agreements (SEM CfDs) were amended to take account of the new reconcilliation and dispute procedures arising.  Further amendments to the Master Agreements were made in February 2014 to reflect the extensive reporting requirement envisaged under EMIR.  This was to ensure that the parties are not in breach of the existing duty of confidentiality owed between the parties when reporting data to trade repository in accordance with obligations under EMIR.

The RA's today (5th September 2014) are publishing the following documents with additional necessary changes under EMIR:
(a) DC Master Agreement mark up

(b) DC Amendment Agreement

(c) DC Subscription Rules - section 6.2 amended to reflect the amendments in the Master Agreement

(d) PSO Master  Agreement mark up

(e) PSO Amendment Agreement

For the avoidance of doubt the changes to the Master Agreements are only those needed to implement EMIR.