Just as the dust was settling on the extension to the Single Euro Payments Area migration deadline, another EU regulatory deadline was in danger of being breached, giving rise to suggestions that it too could – or should – be moved.

In August 2012, the European Market Infrastructure Regulation, ruled that all derivative users, whether financial institutions or corporates, must report specific information on their transactions to registered trade repositories as of February 12, 2014. But as the deadline approaches, it is becoming increasingly clear that some organisations will miss it, and that there could be major gaps and anomalies in the trade reporting of others.