On February 14, ISDA responded to the Financial Conduct Authority (FCA) discussion paper (DP) 24/2 on improving the UK transaction reporting regime under the UK Markets in Financial Instruments Directive (MiFID) framework. The FCA indicated they are making changes with the intention of simplifying and streamlining the reporting requirements, while still maintaining or improving upon the quality of data received. In the response, ISDA highlights its support for many of the changes being proposed within the DP, although several areas have been identified that with the implementation of additional measures could achieve greater improvements. These areas include, alignment with global standards, avoidance of duplicative reporting, potential for a form of single-sided reporting, improved identifier for OTC derivatives, and utilizing technology to enhance efficiency and accuracy.
Documents (1) for ISDA Response to FCA Discussion Paper on UK MiFID Transaction Reporting
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