FCA Market Watch 74 – Reiterating The Need for Regular MiFIR Reconciliation
The aim of FCA Market Watch 74 is to improve the quality and accuracy of transaction reporting and financial instrument reference data used by firms they regulate.
The aim of FCA Market Watch 74 is to improve the quality and accuracy of transaction reporting and financial instrument reference data used by firms they regulate.
A Systematic Internaliser (SI) is an investment firm which is a counterparty dealing with its proprietary capital and is not a trading venue.
EMIR Refit has been receiving a lot of press recently with its upcoming changes to the format of reporting and additional data elements. Alongside this, ESMA has been working on changes to MiFIR given that the regime commenced over five years ago.
As part of MiFIR/UK MiFIR, Investment Firms should have arrangements in place to regularly reconcile their front office transactions against data samples provided by their National Competent Authority (NCA).
There are certain fields within EMIR, MiFIR and SFTR which require populating with an LEI or specifically ‘ISO 17442 Legal Entity Identifier (LEI) 20 alphanumerical character code’
TRAction is pleased to introduce the updated User-Friendly Guide to Transaction Reporting in Europe. The team at TRAction have refreshed our well-known guide for those reporting under EMIR and MiFIR/MiFID II in both the UK and Europe.
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.
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.
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.