CME European Trade Repository

CME European Trade Repository CME Global Repository Services Version 4.0 June 2014

Contents CME Global Trade Repository Services Overview Page 3 EMIR Reporting Requirements Page 7 EMIR Collateral & Valuations Page 10 EMIR Reporting Checklist Page 12 CME ETR Page 17 CME Delegated Reporting Page 20 CME Contacts Page 22 Appendix Page 24 2

CME Repository Services Overview

CME Global Repository Services Premium, simplified, efficient and low cost regulatory reporting solutions for all market participants CME European Trade Repository and CME Swap Data Repository for multi-jurisdictional reporting - www.cmegroup.com/etr and www.cmegroup.com/sdr Solution for cleared and bilateral transactions across Rates, Credit, FX, Equities and Commodities Proven reporting systems and processes; extensive regulatory experience Per ticket fee model with no additional charge for modifications to a report World class customer service Maximizes lightweight ClearPort technologies and middleware clearing connectivity Straight Through Processing: - one message for clearing, reporting & full reconciliation reports 4

CME Global Repository Services Simple. Experienced. Responsive. Diverse. 40+ Million Transactions reported across multi-asset classes Accepts: Exchange Traded Cleared OTC Bilateral OTC 500+ Global Customers Real-time Technology 24 Hour Access Multi-Jurisdiction 5

CME ETR service Multi-asset class offering An ESMA approved TR covering all bilateral exchange traded and OTC products across all asset classes: interest rate, FX, credit, equities and commodities European based solution London based legal entity with local business and support staff Cost effective Per ticket model, irrespective of notional size, and no additional charge for modification reports Test environment Documentation and test available through: www.cmegroup.com/etr Technologically efficient Flexible upload submission reports via API and CSV; real time trade blotter and customisable reconciliation reports ad hoc or end of day Delegated reporting Available through CME Clearing and CME Clearing Europe: www.cmegroup.com/delegatedreporting 6

EMIR Reporting Requirements

EMIR Reporting Obligation Overview What must be reported? All derivatives executed and any modification or termination; collateral & valuations from 12 th August 2014. Includes Exchange Traded Derivatives ( ETD ) and Over-The-Counter ( OTC ) Asset Classes: Rates, Credit, FX, Commodities, and Equities By whom? Dual reporting - All financial and non-financial counterparties and CCPs - this may be delegated provided there is no duplication in reporting To whom? A registered or recognised trade repository How quickly? Must be reported no later than the following working day ( EOD T+1 ) When does it start? 12 February 2014 What has to be reported? Counterparty data 26 fields (participant IDs, valuations, etc.) Common data 59 fields (trade details, clearing, contract type, etc.) What records must be kept? Any derivatives concluded and modified for at least 10 years following termination Is there any back-reporting? Yes 8

Key Regulatory Reporting Differences Dodd-Frank EMIR WHO WHEN WHO WHEN Hierarchy One side reports As Soon As Technologically Practicable (realtime) All counterparties Each side reports End of Day T+1 WHAT Fields WHAT Products WHAT- Fields WHAT Products Primary Economic Terms more details Swaps Common and Counterparty Data 85 fields Includes collateral All Derivative Futures & OTC Dodd-Frank and EMIR are each complex in their own ways 9

EMIR Collateral & Valuations Reporting Commencement Date - 12 th August

Collateral & Valuation Reporting Requirements What additional reporting needs to take place from the 12 th of August 2014? - Collateral reporting comes into force for financial counterparties and NFC+ - NFC- (out of scope non-financial counterparties) do not have to report collateral and valuation.* How do I know what Data to Report? - Information required has been provided in the EMIR Table 1, Counterparty Data Fields 17 to 26 (please see Appendix for further details) What do I need to do? - Mandated counterparties to a transaction will need to report the Collateral Valuations and Transaction Valuations to an ESMA approved Trade Repository. Key sources are: - EMIR Art 9 - EMIR RTS 148/2013 (Article 3 on reporting of exposures) - EMIR RTS 1247/2012 (Article 5 and Annex 1 which sets out the data fields and delay for reporting of exposures) - ESMA Q&A TR Question 3 - detail on reporting of collateral and valuation * Please see Appendix EMIR Reporting Requirements NFC- and NFC+ for further information on NFC- and NFC+ classifications 11

EMIR Reporting Checklist

EMIR Reporting Obligation Checklist Checklist Obtain Legal Entity Identifier via Local Operating Units (list of LOUs found at LEIROC.ORG) Decide which transactions fall under EMIR reporting requirements Speak with counterparties and back office providers on delegated reporting and UTI generation Receive all relevant counterparties static data, including their LEI Decide whether to report directly or leverage delegated reporting Understand different Trade Repositories offerings Security and Reliability Fees Technical Efficiencies Customer Service Test Sign user Agreement Report 13

How can I fulfil my reporting obligation? Self-reporting Report directly to the CME European Trade Repository (CME ETR) or another TR registered with ESMA. Please see further slides for details on testing and on-boarding with CME ETR. Delegated reporting CME Clearing and CME Clearing Europe offer a delegated service for EMIR trade reporting to CME ETR. More information can be found at www.cmegroup.com/delegatedreporting The service is available across all asset classes, OTC and exchange-traded, both available for any CME Clearing and CMECE cleared product (i.e. for underlying client trades where CME clears a corresponding contract). 14

Connectivity to CME ETR Approach - Real-time systems - Leverage ClearPort gateway & workflows - Universal front end experience (API and CSV) - Back end support of multi-jurisdictional reporting complexities API Submission - ClearPort API (FIXML) over MQ or HTTPS web services - Leveraging ClearPort APIs and deploying Universal, DFA and EMIR native operations CSV Submission - Asset class specific templates - GUI upload, secure FTP, or web services Reconciliation Reports - Customizable reports, by any attribute (i.e. product, LEI, date), available ad hoc or end of day Documentation - Technical CSV specs available at www.cmegroup.com/etr - User Guide available at www.cmegroup.com/etr 15

Resources, Documentation and Testing Currently Available - Production and Test environment for CME cleared products, bilateral OTC and non-cme cleared (both listed and OTC) reports - Support and testing for CME-cleared OTC and ETD transactions - CSV Technical Specifications available at www.cmegroup.com/etr - Demo found at www.cmegroup.com/etrdemo - User Guide found at www.cmegroup.com/etr - User Agreement available at www.cmegroup.com/etr - Fee Schedule available at www.cmegroup.com/etrfees - API specifications available for all asset classes Visit www.cmegroup.com/etr or email repository@cmegroup.com for more information 16

CME ETR

European Trade Repository User Interface Facilitates upload of CSV files to CME ETR to comply with all reporting obligations Ad hoc flexible reporting downloading capabilities reconciliation reports customizable by any field Supports cleared and bilateral transactions Customize and save queries for streamlined access CME ETR Demo video www.cmegroup.com/etrdemo European Trade Repository 18

European Trade Repository Fee Schedule* Visit cmegroup.com/etrfees for complete schedule CME Approach Asset Classes Serviced Who to Charge Minimum Annual Charge Covered by minimum Charge per UTI Fee Cap Delegated Reporting Fee Waivers Fees charged on a one-time basis to each side of transaction with a new UTI Rates Credit FX Commodities Equities Charge Per side of transaction Charge to User, Delegated Reporting Counterparty or Reporting Service Provider 3,600 annually The first 300 of billable activity for the month is not charged ETD (UTIs per month) Tier 1: Less than 100,000 : 0.015 Tier 2: 100,001 750,000: 0.010 Tier 3: Above 750,000: 0.005 200,000 annually OTC (UTIs per month) Tier 1: Less than 500: 0.50 Tier 2: 501 15,000: 0.35 Tier 3: Above 15,000: 0.12 Only charged 1.5x, rather than 2x, for reporting both sides of transaction No maintenance fees and fee waiver for backloaded transactions *Subject to change. 19

CME Delegated Reporting

CME Clearing Delegated Reporting Service - Clients In order to support European clients in a difficult and dynamic regulatory environment, CME Clearing and CME Clearing Europe offer a delegated service for EMIR trade reporting to the CME European Trade Repository. More information can be found at www.cmegroup.com/delegatedreporting. The service is available across all asset classes, OTC and Exchange-Traded, for any CME Clearing and CMECE cleared product (i.e. for underlying client trades where CME clears a corresponding contract). CME Clearing or CMECE to report client CM cleared trade to CME European Trade Repository CM and Client would need to sign up as a user of CME ETR in order to view reports / make corrections Client and CM would Opt-in if service is required not provided as default position Data taken from CME Clearing or CMECE Clearing System to complete reports (both counterparty data and common data). Certain additional data required from client and CM to ensure complete reports. 21

CME Contacts

European Trade Repository Contacts Business Team: Support Team: Repository@cmegroup.com RepositorySupport@cmegroup.com General Website - http://www.cmegroup.com/etr CME European Trade Repository User Agreement - Available from our website www.cmegroup.com/etr CME ETR User Interface Demo - www.cmegroup.com/etrdemo Technical Specs Upload and Downloadable Reconciliation.CSV Templates - Technical CSV specs and User Guide are available under Resources section at www.cmegroup.com/etr 23

Appendix

ESMA Identifiers Entity Codes LEI - Endorsed LEI providers can be found at: http://www.leiroc.org/publications/gls/lou_20131003_2.pdf f Trade Codes UTI - It is the responsibility of the counterparties to a contract to generate a UTI - Should be reported by each counterparty to allow for pairing of contracts. Product Codes UPI - UPI should be generated to identify the reported products - Taxonomy should cover the range of derivatives products traded under EMIR - Concerns that this will not be available by implementation date - In the absence of a globally agreed product identifier, ESMA agreed that ISIN, AII and CFI may be used to correctly identify the derivative product 25

Collateral & Valuation Field Specific Information EMIR Field 17 Mark to Market Value of Contract Counterparty Data Field Description Mark to market valuation of the contract, or mark to model valuation where applicable under Article 11(2) of Regulation (EU) No 648/2012. 18 Currency of mark to market value of the contract The currency used for the mark to market valuation of the contract, or mark to model valuation where applicable under Article 11(2) of Regulation (EU) No 648/2012. 19 Valuation Date Date of the last mark to market or mark to model valuation. 20 Valuation Time Time of the last mark to market or mark to model valuation. 21 Valuation Type Indicate whether valuation was performed mark to market or mark to model. 22 Collateralisation Whether collateralisation was performed. 23 Collateral Portfolio 24 Collateral Portfolio Code 25 Value of the Collateral Whether the collateralisation was performed on a portfolio basis. Portfolio means the collateral calculated on the basis of net positions resulting from a set of contracts, rather than per trade. If collateral is reported on a portfolio basis, the portfolio should be identified by a unique code determined by the reporting counterparty. Value of the collateral posted by the reporting counterparty to the other counterparty. Where collateral is posted on a portfolio basis, this field should include the value of all collateral posted for the portfolio. 26 Currency of the Collateral Value Specify the value of the collateral for field 25. http://eur-lex.europa.eu/lexuriserv/lexuriserv.do?uri=oj:l:2013:052:0001:0010:en:pdf 26

CME ETR CSV Upload File Field Specific Info EMIR Field Trade Upload Trade Valuation/Collateral Report Position Upload Valid Values Example 17 Mark to Market Value of Contract Not Required Required for valuation submission Required Number 10000 18 CCY of M2M value of the contract 19 Valuation Date Not Required Not Required Required for valuation submission Required Required for valuation & Collateral submission Required 20 Valuation Time Not Required Optional for valuation submissions Required 21 Valuation Type Required Not Required Required 22 Collateralisation Not Required Optional Optional 23 24 Collateral Portfolio Collateral Portfolio Code Not Required Optional Mandatory for collateral submission if Collateral Portfolio = Yes Optional Mandatory for collateral submission if Collateral Portfolio = Y ISO 4217 Currency Code, 3 alphabetical digits ISO 8601 Date Format YYYY-DD-MM UTC Time Format hh:mm:ss M = Mark to Market, O = Mark to Model U = Uncollateralised PC = Partially Collateralised OC = One Way Collateralised FC = Fully Collateralised Y = YES N = NO USD 2014-28- 02T16:34:56.384-05:00 2014-28- 02T16:34:56.384-05:00 Not Required Optional Optional Up to 10 numerical digits 5645564589 M FC Yes 25 Value of the Collateral Not Required Optional Optional Number 9500000 26 Currency of the Collateral Value Not Required Required for valuation submission Required ISO 4217 Currency Code, 2 Alphabetical Digits USD 27

Disclaimer CME Group, CME Europe, CME Global Repository Services, CME European Trade Repository and CME Clearing Europe are brands of CME Group Inc. and its subsidiaries, members of which include Chicago Mercantile Exchange Inc., CME Europe Limited, CME Clearing Europe Limited, CME Trade Repository Limited and CME Marketing Europe Limited. Futures and swaps trading is not suitable for all investors, and involves the risk of loss. Futures and swaps are leveraged investments, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money initially deposited for a futures and a swap position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. CME Group is the trademark of CME Group, Inc. The Globe logo, Globex and CME are trademarks of Chicago Mercantile Exchange, Inc. CBOT is the trademark of the Board of Trade of the City of Chicago Inc. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York Mercantile Exchange Inc. COMEX is a trademark of Commodity Exchange Inc. All other trademarks are the property of their respective owners. The information within this presentation has been compiled by CME Group for general purposes only. Although every attempt has been made to ensure the accuracy of the information within this presentation, CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this presentation are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or necessarily the results of actual market experience. All data is sourced by CME Group unless otherwise stated. This communication does not constitute a Prospectus, nor is it a recommendation to buy, sell or retain any specific investment or to utilise or refrain from utilising any particular service. CME Europe Limited will be a Recognised Investment Exchange (RIE) subject to a pending application to the Financial Conduct Authority. CME Clearing Europe Limited is a Recognised Clearing House ( RCH ) recognised by the Bank of England. CME Trade Repository Limited ( CME European Trade Repository ) has applied to the European Securities and Markets Authority ( ESMA ) for registration under EMIR as a registered trade repository. CME European Trade Repository will not conduct business as a trade repository until this registration has been granted by ESMA. Chicago Mercantile Exchange Inc. is a Recognised Overseas Clearing House (ROCH) recognised by the Bank of England. Chicago Mercantile Exchange Inc., Board of Trade of the City of Chicago and the New York Mercantile Exchange are Recognised Overseas Investment Exchanges (ROIE s) recognised by the Financial Conduct Authority. Issued by CME Marketing Europe Limited. CME Marketing Europe Limited (FRN: 220523) is authorised and regulated by the Financial Conduct Authority in the United Kingdom. 28