In order to facilitate adherence with trade reporting requirements for in-scope derivatives, EMIR permits counterparties to delegate the reporting of their trades to the other counterparty.
To help our clients to meet their reporting obligations HSBC offers a Delegated Reporting Service. The HSBC Delegated Reporting Service applies to relevant transactions entered into between your EEA entities and HSBC sites.
More information on which HSBC sites offer the Delegated Reporting Service and the nature of the service can be found under the 'Trades with HSBC in Europe' and 'Trades with HSBC Bank USA NA' tabs. The terms and operational procedures of service may vary depending on which HSBC site you transact with.
HSBC will provide a Delegated Reporting Service for its clients where they are trading directly with HSBC. Note that we will not report trades executed through a central counterparty or intercompany trades and we will only report exchange-traded derivatives where specifically agreed between us.
By subscribing to the HSBC EMIR Delegated Reporting Service, you authorise HSBC to report your trade-related data on your behalf. Generally, you only need this service if you are an EEA entity subject to EMIR trade reporting requirements.