The Emir Refit: Technology and Operational Implications

Key findings include: 

  • More than one-third (34%) of respondents reported that they are well into their Emir Refit preparations and that they fully understand the details of the new reporting obligations, while 28% have adopted a “wait-and-see” approach due to what they perceive to be uncertainty around the final implementation date (currently January 2023).
  • In terms of the technology and operational challenges firms associate with the Emir Refit, 44% cite understanding how the new reporting obligations will impact their day-to-day operations, while, significantly, 34% see identifying an appropriate technology partner to help them with “heavy lifting” as their primary challenge.
  • When it comes to partnering with a third-party provider or platform to help firms manage their Emir Refit obligations, almost half of all respondents (47%) reported that they would look for a third-party portal that they can use to distribute their unique transaction identifiers (UTIs).