Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time as Daylight Saving Time (DST) ends in the US this weekend (2 November 2025).
TRAction suggests you undertake the following checks to ensure your trades/transactions are accurately reported under EMIR, MiFIR, SFTR, ASIC, MAS and Canada.
1. Check the Time fields in your Handback File
Tuesday, 4 November 2025, will be the first day that you receive your handback file for trades/transactions carried out after the end of New York DST if you are reporting on a T+1 basis (otherwise it will be on 5 November 2025 if your reporting is carried out on a T+2 basis).
EMIR and MiFIR
You will need to cross-check the time of your trades/transactions against the Universal Time Coordinated (UTC) recorded under the following LSEG Post Trade Trade Repository (TR) and Approved Reporting Mechanism (ARM) fields:
- MiFIR – Trading Date Time field
- EMIR – Execution Timestamp field
SFTR
You will need to cross-check the time of your trades/transactions against the UTC recorded under the following DTCC field:
- SFTR – Execution Timestamp field
ASIC and MAS
You will need to cross-check the time of your trades/transactions against the UTC recorded under the following DTCC field:
- Execution Timestamp field in your handback file. This field must match your trade Open Time.
Canada
You will need to cross-check the time of your trades/transactions against the UTC recorded under the following CME fields:
- IIROC – ExecutionDateTime
How do I check this?
- Select a sample of trades from your raw data and convert the time to UTC; and
- Compare those against the UTC populated under the fields as described above in your handback file.
It’s important to do the following check and act promptly if there is any problem. If the time does not match, please contact our team.
2. Check time recorded for daily snapshot (if applicable)
For firms that submit a daily snapshot for trade/transaction reporting, double check if it is taking place at the intended end-of-day time.
With these simple checks above, you will save time and effort from submitting corrections for your trades. This will also minimise breaches in the future.
If you have any concerns or are not sure how to do this check, please contact us.
