Richard Boyd Barrett
Ceist:382. Deputy Richard Boyd Barrett asked the Minister for Finance the volume of commercial trade that took place in derivatives here in 2017. [35045/18]
Amharc ar fhreagraTuesday, 24 July 2018
Ceisteanna (382)
Freagraí scríofa
In Europe data is collected on derivative transactions in accordance with the requirements set out under Regulation (EU) No. 648/2012 or the European Markets Infrastructure Regulation (EMIR).
As required by EMIR, trade repositories were established to centrally collect and maintain the records of derivative transactions by EU counterparties. They play a central role in enhancing the transparency of derivative markets and reducing risks to financial stability.
EMIR sets out the organisations which can access the data collected by trade repositories which include the European Securities and Markets Authority (ESMA), the relevant competent authorities, the European Systemic Risk Board (ESRB), the relevant central banks of the European System of Central Banks and certain other bodies.
All Irish counterparties to derivative transactions are obliged to report relevant details to a trade repository. The Central Bank of Ireland, as the Irish national competent authority, has access to trade repository data for the purpose of carrying-out its functions under EMIR.
The Bank of International Settlements compiles and publishes statistics on global derivative market activity (interest rate derivatives) every three years.
The Central Bank of Ireland has published a press release and data pertaining to interest rate derivative market activity in Ireland based on this data for the period April 2013 to April 2016, the most up to date figures available. Such information can be accessed at: https://www.centralbank.ie/docs/default-source/statistics/credit-and-banking-statistics/bis-survey-on-foreign-exchange-and-derivatives-markets/gns-6-2-2-7-press-release.pdf?sfvrsn=4 https://www.centralbank.ie/statistics/data-and-analysis/credit-and-banking-statistics/bis-survey-on-foreign-exchange-and-derivatives-markets.
Question No. 383 answered with Question No. 766.