ESMA · ESMA_QA_1705 Answer Published
Transaction reporting
- Regulation
- Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP
- Topic
- * Transaction reporting
- Submitted
- 2017-10-05
- Answered
- 2017-10-05
Question
In the case of a transaction on an OTC derivative contract (MIC code-field 36 = “XXXX”. These are all derivatives falling under MiFIR Article 26(2)(b) and (c).), what is expected in the transaction report when any of the following characteristics of that contract is changed: fields 50 to 56 of annex 2 of CDR 2017/590?
Answer
[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 24.5] When any of those characteristics of the contract change, the transaction thereof should be considered as a new contract and therefore two transaction reports are expected: One materializing the closing out of the initial derivative contract (swapping the buyer and the seller). One for the opening of the new contract with the new characteristics.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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