EMIR Delegated Reporting

In order to facilitate adherence with trade reporting requirements for in-scope derivatives, EMIR permits counterparties to delegate the reporting of their trades to the other counterparty. Since Brexit, there is EU EMIR for EEA entities, and UK EMIR for UK entities. In the EU, the regulator is the European Securities and Markets Authority (ESMA) for EU EMIR, supported by individual country’s National Competent Authorities (NCAs); and the regulator for the UK is the Financial Conduct Authority (FCA).

To help our clients to meet their reporting obligations, HSBC offers a Delegated Reporting Service. The HSBC Delegated Reporting Service applies to relevant derivative transactions entered into between your EEA and UK entities and HSBC sites.

ESMA and FCA expects all entities covered by EMIR to obtain a Legal Entity Identifier (LEI). Several 'Local Operating Units' or 'LOUs' provides global LEIs, which means that they are able to generate LEIs for clients from any country. It is a mandatory requirement for all counterparts to register for an LEI if they wish to use the HSBC Delegated Reporting Service AND to maintain that LEI throughout the life of the reporting service.

HSBC will provide a Delegated Reporting Service for its clients where they are trading directly with HSBC. Note that we will not report trades executed through a central counterparty. HSBC will require information from you in order to perform this service. Visit our EMIR Delegated reporting data page for further details.

When you transact with us over a middleware platform (such as: MarkitWire, DS Match or ICE Link), the date of onboarding will determine which service you receive. Visit our EMIR Delegated reporting Middleware Platforms page for further details.

By subscribing to the HSBC EMIR Delegated Reporting Service, you authorise HSBC to report your trade-related data on your behalf. Generally, you only need this service if you are an EEA or UK entity subject to EMIR (either EU EMIR or UK EMIR) trade reporting requirements. Visit our EMIR Delegated Reporting Register page for more information on which HSBC sites offer the Delegated Reporting Service, the nature of the service, and how to register can be found here

Despite best intention and effort, it is inevitable that from time to time there might be reporting issues with the service. Visit our EMIR Delegated reporting known issues page access the summary of known reporting issues.