REGIS-TR – the first European Trade Repository for Derivatives Powered by:

1. REGIS-TR – the first European Trade Repository for Derivatives Powered by:

2. Regulatory requirements under EMIR

3. EMIR – Implementation timeline by ESMA as of March 2013 Jan 2013 Jul 2013 Jan 2014 Jul 2014 25 Jun 2013 A: Registration of a TR A + 90 days: Reporting start date for IR and Credit derivatives 23 Sep 2013 Reporting start date for all other asset classes 1 Jan 2014 OTC Clearing Reporting 15 Mar 13 15 Sep 2013 B: CCPs to apply for authorisation ESMA starts determining products to be cleared Q3 2013 Firms clear derivatives business Q2 2014 16 Apr 2013 16 Mar 2014 Notifications for the clearing obligation ESMA to submit draft RTS on the clearing obligation 16 Oct 13 16 Sep 2014 Possible final date Possible range of final date

4. EMIR – Key Cornerstones of the EU Regulation ESMA Final Report Key components of the reporting regulation: • Reporting: Financial as well as non-financial counterparties must report all, cleared as well as uncleared, exchange- as well as OTC-traded contracts to a TR – no threshold applies – no exceptions on derivatives products • Reporting: Phasing of products to be reported – Interest Rate, Credit and respective listed derivatives to be reported as of September 2013, all other product classes three months later (January 2014) • Timing: All derivatives positions must be reported to a trade repository (limit T+1) • Live contracts are to be “backloaded” into a trade repository post-applicability of the regulation, depending on the start date for the respective product class • The new regulation applies from 23 September 2013

5. Interest rates and fixed- income Credit default swaps Equities Reporting of all asset classes Commodities Foreign exchange What REGIS-TR can be for the industry What is REGIS-TR and who is behind REGIS-TR What REGIS-TR brings to the industry Exchange Trades Derivs • A Trade Repository offering registration and reporting services for Derivatives out of Luxembourg • Belonging to well known European Market Infrastructures within two exchange infrastructures (Deutsche Boerse and BME) • Registration and reporting services for Derivatives and holding the customer data exclusively in the EU • Providing a one-stop-shop service, based on a reliable, cost-efficient TR solution for all types of market participants • Delivering added-value services well beyond regulatory compliance – exposure management, reporting hub...

6. REGIS-TR is based on a secure and scalable system environment Technical architecture: • Developed on BME’s mainframe IBM platform with a central database server using DB2 • Efficiency, high security and scalability Contingency measures: • Use of existing BME’s mainframe also used for CSD function: • Maximum back-up quality standards • Availability of two redundant locations with data centres and offices, with synchronous data replication: • Integrity of back-up data • Internet access = BME Internet infrastructure with high capacity bandwidth and complete redundancy: connection with two different ISPs through two independent nodes. All components duplicated • Tested every 6 months

7. REGIS-TR offers flexible and industry-standard access • System Access and communication between participants and REGIS-TR: • Use of web-based application • Manual input/queries with secured Internet access. Web access, exportable to CSV files • Mass upload/download of XML files through secured Internet access • Automatic transfer of XML files through a SWIFTNetFileAct file transfer connection between REGIS-TR and the participant • SOAP API connection and data transfer via SWIFT MT messaging under development • Customer Service helpdesk during EU working hours • Advantages: • Cost-efficient platform, accessible from “anywhere” • Efficient/cost-effective particularly for small participants • Efficient for medium- to large participants • Use of low-cost widely used industry standards • Alternative connection possibilities, further flexibilizing the options for participants • Online helpdesk support Easybuild-up of XML messaging.

8. REGIS-TR – Reporting Flows Post-trading platforms Trading platforms MarketParticipants CCPs Clients Supervisory Authorities Third Party delegation Information enhancement Directly? PDF Reporting Obligation

9. EMIR: Principals and Practice with respect to Reporting Practical examples to illustrate simple principles 1. Bilateral non-cleared trade 2. Principal trades in a chain 3. Counterparty dealing bilaterally with another counterparty through a broker

10. EMIR: Principals and Practice with respect to Reporting When simple principles meet market reality 4. Two counterparties executing a trade in a venue • Outstanding issues include; • Is it always clear who is to be understood as the original counterparty and subject to a reporting obligation? • Is it reasonable to assume that a single trade id will be used from trade venue through novation to netting? • Can we assume in all cases that the «principal» has the all the information required to fulfill its reporting obligation and/or delegate that responsibility to a CCP?

11. Contact Details REGIS-TR 42, Avenue J.F. Kennedy L - 1855 Luxembourg Tel: +352 243 36481 Email: onboarding@regis-tr.com