Article 19 Verification of completeness and correctness of data

An application for registration as a trade repository shall contain the following information:

1. (a)

   procedures for the authentication of the identity of the users accessing the trade repository in accordance with EMIRR 2.1.1R(1) of the FCA Handbook1;

2. (b)

   procedures for the verification of the completeness and correctness of derivatives reported to the trade repository in accordance with EMIRR 2.1.1R(2) of the FCA Handbook;1

3. (c)

   procedures for the verification of the authorisation and IT permission of the entity reporting on behalf of the reporting counterparty in accordance with EMIRR 2.1.1R(3) of the FCA Handbook;1

4. (d)

   procedures for verification that the logical sequence of the details of the reported derivatives is maintained at all times in accordance with EMIRR 2.1.1R(4) to (11) of the FCA Handbook;1

5. (e)

   procedures for the verification of the completeness and correctness of the details of the reported derivatives in accordance with EMIRR 2.1.1R(12) of the FCA Handbook;1

6. (f)

   procedures for the reconciliation of data between trade repositories where counterparties report to different trade repositories in accordance with EMIRR 2.3 of the FCA Handbook;1

7. (g)

   procedures for the provision of feedback to the counterparties to the derivatives, entities responsible for reporting1 or the third parties reporting on their behalf, on the verifications performed under points (a) to (e) and the outcomes of the reconciliation process in point (f) in accordance with EMIRR 2.1.3R and EMIRR 2.3.5R of the FCA Handbook;1

8. (h)

   procedures for the provision of warning feedback to the counterparties to the derivatives, entities responsible for reporting or the third parties reporting on their behalf, on the verifications performed in accordance with EMIRR 2.4.1R(5) to (7) of the FCA Handbook;1

9. (i)

   procedures for the amendment of legal entity identifiers in accordance with EMIRR 2.2 of the FCA Handbook.1