TITLE VII

REQUIREMENTS FOR TRADE REPOSITORIES

Safeguarding and recording
Article 80
1
A trade repository shall ensure the confidentiality, integrity and protection of the information received under Article 9.
2
A trade repository may only use the data it receives under this Regulation for commercial purposes if the relevant counterparties have provided their consent.
3
A trade repository shall promptly record the information received under Article 9 and shall maintain it for at least 10 years following the termination of the relevant contracts. It shall employ timely and efficient record keeping procedures to document changes to recorded information.
4
A trade repository shall calculate the positions by class of derivatives and by reporting entity based on the details of the derivative contracts reported in accordance with Article 9.
5
A trade repository shall allow the parties to a contract to access and correct the information on that contract in a timely manner.
5a
Upon request, a trade repository shall provide counterparties that are not required to report the details of their OTC derivative contracts pursuant to Article 9(1a) to (1d) and counterparties and CCPs which have delegated their reporting obligation pursuant to Article 9(1f) with access to the information reported on their behalf.
6
A trade repository shall take all reasonable steps to prevent any misuse of the information maintained in its systems.
A natural person who has a close link with a trade repository or a legal person that has a parent undertaking or a subsidiary relationship with the trade repository shall not use confidential information recorded in a trade repository for commercial purposes.
Inserted by Regulation (EU) 2019/834 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 648/2012 as regards the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty, the registration and supervision of trade repositories and the requirements for trade repositories (Text with EEA relevance).
Arts. 78-80 modified (30.1.2024 for specified purposes, 1.11.2024 in so far as not already in force) by The Securitisation Regulations 2024 (S.I. 2024/102), regs. 2(1)(e)(2), 14(4) (with Sch. 3) (as amended by S.I. 2024/705, regs. 1(2), 2(2))