MiFIR Data Reporting Q&As Updated - 18/04/2023

ESMA has published a new version of the MiFIR data reporting Q&A.

Please find below a summary of the changes.

Change	L1 Issue	Subject	Status	Before	After
1	RTS 23	2.8 LEI of the Issuer: LEI of sovereign issuer	New	n/a	Question: What LEI should be used to report in FIRDS the issuer of sovereign bonds issued by an EEA member state? Answer: Reporting entities should refer to the list maintained by GLEIF, available at: https://search.gleif.org/#/search/ and report the LEI pertaining to the sovereign entities included in the below list
2	RTS 22	24.11 Transaction Reporting: Concept of Underlying	Amended	Question: Does the concept of an underlying for the purposes of Article 26(2)(b) of MiFIR extend to convertible bonds? Answer: Where a transaction takes place in a convertible bond (the main instrument) and the instrument into which the bond can be converted is traded on a trading venue the transaction is reportable under article 26(2)(b). Where a transaction report is made on the basis of the instrument being in scope of 26(2)(b) the underlying instrument into which the main instrument can be converted should be reported in field 47. Where the convertible bond is also in scope under 26(2)(a) then the underlying does not need to be populated in the transaction report as only the ISIN of the convertible bond needs to be reported (in field 41).	Question: Does the concept of an underlying for the purposes of Article 26(2)(b) of MiFIR extend to convertible bonds, reverse convertible bonds and reverse convertible notes? Answer: Where a transaction takes place in a convertible bond, reverse convertible bond or reverse convertible note (the main instrument) and the instrument into which the bond can be converted is traded on a trading venue the transaction is reportable under article 26(2)(b). Where a transaction report is made on the basis of the instrument being in scope of 26(2)(b) the underlying instrument into which the main instrument can be converted should be reported in field 47. Where the convertible bond, reverse convertible bond or reverse convertible note is also in scope under 26(2)(a) then the underlying does not need to be populated in the transaction report as only the ISIN of the convertible bond needs to be reported (in field 41).
3	RTS 22	24.14 Identifier for stateless natural persons	New	n/a	Question: What ISO 3166-1 country code should trading venues and investment firms use to identify stateless natural persons for the purposes of transaction reports? Answer: When identifying stateless natural persons, trading venues and investment firms should use the ISO 3166 code “ZZ”, followed by a CONCAT code generated in accordance with Article 6(4) of Commission Delegated Regulation (EU) 2017/590 (RTS22)

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