On February 14, ISDA submitted a response to the UK Financial Conduct Authority’s (FCA) discussion paper 24/2 on improving the UK transaction reporting regime under the UK Markets in Financial Instruments Directive (MIFID) framework. The FCA indicated it is making changes with the intention of simplifying and streamlining reporting requirements, while still maintaining or improving the quality of data received. In the response, ISDA highlights its support for many of the proposed changes, although several areas have been identified that could be improved with additional measures. These areas include alignment with global standards, avoidance of duplicative reporting, the potential for a form of single-sided reporting, an improved identifier for OTC derivatives and using technology to enhance efficiency and accuracy.