EMIR & LEI Information
Instructions
Certain IBKR clients may become subject to position and trade reporting obligations under the European Markets Infrastructure Regulation ("EMIR") from February 12th, 2014. As of August 16, 2014 - valuation and collateral reporting requirements for regulated financial firms and large or organizations will need to be reported. Additionally, back reporting to August 16, 2012 will be required.
IBKR customers, with the exception of individuals, trading derivatives (OTC or Exchange Traded) established in the European Union and some funds which have fund managers registered in the European Union, will be subject to trade reporting obligations. All such clients will also be obligated to have or apply for a Legal Entity Identifier ("LEI"), which is a unique identifier or code attached to a legal person or structure that will allow for the unambiguous identification of parties to financial transactions.
Cleared clients will be able to delegate their EMIR trade repository reporting obligations to IBKR. In addition, IBKR will facilitate the issuance of Legal Entity Identifiers to clients who are in scope of the regulations and do not currently have a LEI.
-
Click the User menu (head and shoulders icon in the top right corner) > Settings > Account Configuration > EMIR & LEI Information.
-
Select one of the options and click Continue.
I do not have an LEI but would like IBKR to apply for an LEI and to do EMIR reporting on my behalf.
-
Enter the Legal Entity Reference Data and click Continue.
-
After filling out the Legal Entity Reference Data sign the letter of authorization by typing your name and clicking Continue.
I have already obtained an LEI and wish to provide this.
-
Enter the Legal Entity Reference Data
-
Select whether to delegate your EMIR reporting to IBKR
-
Select counterparty type and click Continue
I do not have an LEI and do not want IBKR to apply for an LEI on my behalf as the account holder is not subject to EMIR.
-
Click Continue to confirm that you have chosen not to provide LEI or to apply for LEI..
What Customers Will Not Be Eligible to Report through Interactive Brokers?
-
Individual and joint accounts as they are not subject to reporting requirments
-
Execution only customers
-
Advisor master accounts
-
Referrers
-
Money/Wealth Managers
-
SIPP Administrators
-
Employee Trak master accounts
-
Fund Administrator accounts
If my Fund is Registered Outside of the European Union, Will IB Report on my Behalf?
In general, a fund which is registered or established outside of the European Union will not be required to report under EMIR. If however the fund manager is authorized under the Alternative Investment Fund Managers Directive (AIFMD), the fund may become subject to the requirements under EMIR.
Additional Resources
Learn About the Broker Portal Interface at IBKR Campus