In the case where Firm ABC acts as both executing broker and clearing broker for a trade executed at the organised market place:
- Firm ABC, acting as executing broker, does not have to report the contract because, under EMIR where an entity is fulfilling more than one of these roles (for example, where the investment firm is also the clearing member), then it does not have to report separately for each role and should submit one report identifying all the applicable roles in the relevant fields; and
- Firm ABC, acting as clearing broker, has to report the cleared transaction which includes the Client 123 identifier as counterparty to the contract and Firm ABC identifier as executing broker.
- Firm ABC, acting as executing broker, does have to report for its role and must report order details via delegation to the organised market place or third party service provider. Firm ABC does not have to report data related to the contract.
- Firm ABC, acting as clearing broker, does not have to report in its role because, in that capacity, it is not considered to have entered into a transaction.