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As the popularity of crypto-assets sweeps the market internationally, both ESMA and the FCA have been working to amend the EU and UK regulations – EMIR and MiFIR to support the adequate reporting of crypto-assets. TRAction discuss the reportability under both regimes.
Most European countries alongside the UK will need to turn their clocks forward by 1 hour this Sunday, 31 March 2024. While you enjoy the sun and longer days, you will also need to check that the time settings in your trade/transaction reporting are correct.
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 now that daylight saving time (DST) has started in the US (13 March 2022).
With the separation of EU and UK requirements and the beginning of divergence, determining whether your firm needs to complete RTS 27 and 28 reports can be very confusing. We summarise the current status of each report across both regimes.
