What is happening?
ESMA has published Final Report on its recommendation to update MiFIR transaction and reference data reporting obligations
The European Commission to review proposals
European Parliament to ratify then implementation timescale to begin
Estimated timescales to go live – 3 years.
What are the high impact proposals?
Update to TOTV definition to include products currently listed on Sis (79)
The definition of index to be brought in line with benchmarking regulation (100)
INTC to be replaced with a unique code per grouped order (185)
Additional data required to identify clients (188)
The removal of the short sale indicator (215)
Buyback transactions to become in scope for reporting (235)