The Complexities of ISO 20022 XML for Transaction Reporting
ESMA went live with SFTR in accordance with the ISO 20022 XML methodology in July 2020. This is the first time an EU transaction reporting regulation went live with XML being the only format available for submission. This XML structure was created to provide an industry-wide framework to be used by all financial standards initiatives. Coming into effect in 2023, the European Markets Infrastructure Regulation (EMIR) REFIT will be adding ISO 20022
Position vs Transaction Reporting – After Refit you need to be in sync with your counterparty
Position vs Transaction Reporting – After EMIR Refit you need to be in sync with your counterparty Under EMIR Refit, counterparties are to do transaction level reporting and will only be permitted to report at position level where both counterparties agree to do so. The EMIR Regulation requires reporting of all details of a derivative […]
Is a Zero Notional Position Reportable?
Zero Notional Reporting What is a zero notional position? A notional position refers to the nominal or face value of a financial asset or contract. Therefore, a zero notional position occurs when the face value of a financial contract, like a derivative, is zero. An example of how a zero notional position arises when trading […]
Unique Transaction Identifier (UTI) – Explained
ESMA, the FCA, ASIC and MAS are placing greater emphasis on Unique Transaction Identifiers (UTIs) and their consistent application between counterparties as part of their roll-out in 2024 of updated derivative reporting requirements in their jurisdictions.
Is Crypto Trading Reportable Under EMIR and MiFIR?
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.
FCA – Market Watch 78
FCA – Market Watch 78: Completeness and accuracy of instrument reference data (IRD) under RTS 23. UK trading venue operators and systematic internalisers are required to provide the FCA with details of the financial instruments traded on their platforms.
IRD enables the FCA to understand the nature and characteristics of products traded by market participants.
TRAction & oneZero: Enhanced Trade Reporting Integration
TRAction, a leading provider of trade reporting service, and oneZero, a global leader in multi-asset enterprise trading technology solutions, have announced a new enhancement to their existing integration. TRAction, which specialises in regulatory reporting to simplify compliance for brokers, offers its clients a range of pre-built integrations with trading platforms to help minimise the manual processes […]
RTS 27 and 28 – The 2024 Status of These Reports in UK and EU
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.
What is a fractional share? Are they reportable under EMIR and MiFIR?
There are two distinct financial instruments commonly referred to as “fractional shares”.
FCA – Market Watch 76
FCA – Market Watch 76: Observations on ‘flying’ and ‘printing’. Flying and printing is a term used in financial markets to describe misleading practices where firms manipulate bids, offers, or executed trades to give a false impression of liquidity on price. Clients or other market participants may take investment decisions based on this false or misleading information.