December 4, 2024 (NO COMMENTS)

Repositories storing data on derivatives trades are locked in a version of the age-old card game, Snap, in which players compete for matching pairs of cards.

In this case, though, the pairs are proving hard to come by.

Recent changes to reporting rules in Europe have led to a rise in the number of mismatched derivatives trades that fail to reconcile, insiders say. The new rules are part of the updated European Market Infrastructure Regulation, or Emir Refit.

“I’d be very surprised if Emir Refit