Tuesday July 30 2019


News Source: Fund Regulation

Focus: MIFID and MIFIR

Type: General

Country: European Union



On 29th July 2019, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) on data reporting under the Market in Financial Instruments Regulation (MiFIR).

The Q&As provide clarifications in relation to the requirements for submission of reference data under MiFIR. In particular, the Q&As relate to reporting obligations for financial instruments without a defined expiry date.

The Q&A provides a new answer on how operators should populate field 24 of RTS 23. The amendments to the existing Q&A on MiFIR data reporting becomes effective from 29 July 2019.

Question

What date should be populated in Field 24 (Expiry date) of RTS 23 for financial instruments without a defined expiry date [e.g. perpetual FX Rolling Spot Futures] for which the population of Field 24 is mandatory according to the CFI validation rules?

Answer

For instruments without a defined expiry date for which the population of Field 24 (Expiry date) is mandatory according to the CFI validation rules [e.g. perpetual FX Rolling Spot Futures] Field 24 should be populated with the value 9999-12-31 (in accordance with the ISO format). In case the expiry date becomes determined during the life cycle of the financial instrument Field 24 should be updated accordingly.

Background

The purpose of this Q&A is to promote common supervisory approaches and practices in the application of MiFIR. It provides guidance to Investment Firms, Trading Venues, ARMs and Systematic Internalisers on compliance with the reporting provisions of MiFIR. ESMA will periodically review these Q&A and update them where required.

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