On February 20, ISDA responded to the Financial Conduct Authority’s (FCA) consultation on improving the UK Markets in Financial Instruments Regulation (MIFIR) transaction reporting regime.
The consultation aims to reduce the regulatory burden on firms, support sustained economic growth in the UK, enhance the FCA’s ability to fight financial crime and protect market integrity. ISDA supports several of the proposals, including removing FX derivatives and transactions executed on EU trading venues from scope, reducing the back reporting period from five years to three years and cutting the number of reportable fields.
ISDA argues against the introduction of conditional single-sided reporting and proposes that the unique product identifier replaces the international securities identification number as the over-the-counter derivatives identifier.
The FCA will now produce a policy statement for the MIFIR transaction reporting changes, which is expected to be published in the middle of 2026.
Documents (1) for ISDA Responds to FCA Consultation on Improving the UK MIFIR Transaction Reporting Regime
Latest
ISDA Expands SwapsInfo with US FX Derivatives Data
ISDA has expanded its SwapsInfo website to include data on US-reported foreign exchange (FX) derivatives, further increasing transparency in the over-the-counter (OTC) derivatives market. The new FX section provides insights into trading activity in FX forwards, swaps and options. Users...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA Feedback on Identifying Reference Data
On July 20, ISDA submitted feedback to the European Securities and Markets Authority (ESMA) on draft Level 3 guidance on several technical issues caused by the interaction of the recently adopted regulatory technical standard on derivatives transparency (RTS 2) and...
US Basel III Endgame 2026 Update
In March 2026, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation published a new proposal for capital rules known as the US Basel III, based...