EMIR Delegated Reporting data

HSBC will produce one report including your Counterparty data block, HSBC's Counterparty data block and the Common data block. HSBC will generate a Unique Trading Identifier (UTI) for each trade, or obtain the UTI from the platform for platform executed trades.

HSBC will send the data to the DTCC’s Global Trade Repository (GTR).

Counterparty data (seller or buyer data block): this block of data includes fields such as the counterparty's broker ID, or the 'directly linked to commercial activity or treasury financing' ('hedging') information, corporate sector, and entity responsible for reporting. Further fields are in scope for the reporting of Collateral and Valuation data if your institution's classification is NFC+, FC- or FC+.

You are required to provide HSBC with default values when you register for the service.

Common data: this block of data includes fields such as the Unique Trade Identifier (UTI), Product Identification (e.g. CFI, UPI, ISIN), Notional amount, currency and other trade static and economic data. These data fields are typically identical for both counterparties, except for directional attributes such as those relating to buy/sell, payer/receiver, make/take, and valuations.

Where you are registered for HSBC EMIR Delegated Reporting Service, HSBC will generate, supply and report the UTI as part of the trade confirmation, except for trades affirmed/executed through third party platforms. For trades affirmed/executed through third party platforms (MarkitWire or DS Match, for example), the platform will create the UTI and provide it to both yourself and HSBC.

Except for NFC- clients within the same reporting jurisdiction as the HSBC entity traded with for OTC products, the responsibility for the completeness and accuracy of trade reports remains with the client. Clients are advised to check the completeness and accuracy of the trade reports daily.

If clients wish to reconcile HSBC’s reporting, they will need to register directly with DTCC (HSBC's Trade Repository of choice) to view their trades. Please note that DTCC charges depending on the number of positions and transactions per entity.

To register with DTCC, please visit their Europe website, UK website, client centre or contact their onboarding service at gtr-onboarding@dtcc.com.

Additionally, NFC- clients that explicitly advise they wish to report their own OTC trades also retain the responsibility for the completeness and accuracy of the trade reports. For the avoidance of doubt, these trades are not part of the Delegated Reporting service.

If you are an NFC- client who trades ETDs with HSBC, you have the responsibility for the completeness and accuracy of trade reports and may wish to sign up for the delegation of ETD trades only.