ESMA Q&A Update – MiFID II and MiFIR Market Structures
MiFID II and MiFIR commodity derivatives
What is an NFC-?
Entering into derivative transactions, you become a ‘counterparty’.
EMIR introduces two types of counterparties: Financial Counterparties (FC) or Non-Financial Counterparties (NFC).
How Are Repurchase Agreements Reported for SFTR?
A repurchase agreement (repo) is a form of short-term secured loan where one party sells securities to another and agrees to repurchase those securities later at a higher price with the securities serving as collateral for the borrower.
Refit, Rewrite, RTS, EMIR II; Navigating the Maze of EMIR Version Names
Regulatory reporting is hard enough without the confusion over which version of each regime is the latest. EMIR has gone through a number of variations since it was first implemented in 2012. We thought it would be a great time to outline what the EMIR version names relate to and where we are currently at as we anticipate further changes to the regime.
Corporate Actions and Trade Reporting
Corporate actions bring about material changes to an organisation and impact its stakeholders, including both stock and debt holders. To be implemented, the decision generally needs to be approved by the company’s board of directors, the shareholders or both as the corporate action directly affects the securities issued by the company.
ESMA Q&A Update – MiFID II and MiFIR Market Structures Topics
There has been an addition to the Q&As where trading venues are allowed to set instrument-level trading hours for specific financial instruments as long as the trading hours are announced to the public and market participants.
ESMA Q&A Update – MiFID II and MiFIR Commodity Derivatives Topics
The latest Q&A update is tied to the release of Commission Delegated Regulation (EU) 2022/1302 (RTS 21a) in April 2022 regarding position limits on commodity derivatives and changes to the ancillary activity exemption.
FCA Market Watch 70 – Recent Observations on Transaction Reporting
Although these observations are released by the FCA in respect of firms they regulate in the UK, they have significance for all firms subject to the equivalent MIFID II and MiFIR regimes in the EU.
How The Proposed DORA Will Impact Investment Firms
DORA provides a regulatory framework on digital operational resilience where all firms need to make sure they are able to withstand, respond to and recover from all types of Information and Communication Technology (ICT) related disruptions and threats.
Do You Need to Report (MiFIR) Trade Time in Milliseconds?
When reporting transactions to regulatory bodies, there are variations in the data format that is required from region to region. An example of this difference is the accuracy of the timestamp that is deemed acceptable. Under MiFID II/ MiFIR,milliseconds are required in an attempt to increase the transparency and detail of the information passed to the regulator.