On January 11, the UK Financial Conduct Authority (FCA) updated its webpage on instrument reference data to make available a new instrument reference data errors and omissions form for trading venues or systematic internalizers (SIs) to complete if their instrument reference data is incomplete or inaccurate.
Delegated Regulation (EU) 2017/585, supplements the Markets in Financial Instruments Regulation (MiFIR) in relation to data standards and formats for financial instrument reference data, and technical measures in relation to arrangements to be made by the European Securities and Markets Authority (ESMA) and competent authorities. Under the Delegated Regulation, where a trading venue or SI detects that submitted instrument reference data is incomplete or inaccurate, it must promptly notify its competent authority.
In the new form, the FCA advises trading venues and SIs to submit the new form by email to the FCA’s Markets Reporting Team as soon as possible. The FCA also reminds firms that the ESMA’s question and answer documents (Q&As) on Markets in Financial Instruments Directive (MiFID) data reporting set out expectations on reporting instrument reference data.
The new form should help the FCA ensure that it is provided with the necessary information for the purposes of handling errors or omissions in instrument reference data.
The FCA’s webpage is available here.
The FCA’s new form is available here.
The Delegated Regulation is available here.
ESMA’s Q&As on MiFIR Data Reporting are available here.