Do UK NFCs Trading With an Offshore Broker Inherit Their Reporting Responsibility?
Article 9(1)(a) UK EMIR requires non-financial counterparties (NFCs) who benefit from mandatory delegated reporting when trading derivatives with a financial counterparty (FC) to report both sides of their trades with NFC- entities, unless the NFC- entity has specifically requested otherwise. This reduces the burden on smaller non-financial counterparties.
Digital Option Reportability
A digital option is an instrument which allows traders to manually set the strike price and expiration date by taking a position with only two possible outcomes and a fixed payout. In order to profit, the price of a security must exceed the predetermined strike price.
ESMA Q&A Update – MiFID II and MiFIR Market Structures
MiFID II and MiFIR commodity derivatives
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.
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.
ESMA Q&A Update – Regarding Third Country Issues Under MiFID II and MiFIR Transparency Requirements
Topic MiFID II and MiFIR Transparency Date 5 September 2022 Regulations MiFID II and MiFIR Articles 20 and 21 of MiFIR Level of Significance of Change Minor Main Points This question and answer update confirms that transactions between branches of the same legal entity, or between a branch and its head office, are not subject […]
Trade Reporting for Foreign Payment/Money Transfer Providers
Globally there are a host of foreign exchange brokers which allow their customers to move currency to and from different countries and currencies. These companies are subject to different requirements based on the jurisdiction where they are based and the role they play in the market.