CFTC go live date, FCA seeks views and ESMA's important reporting requirement......
See the latest news from Colin Birchall at Point Nine as he brings you news from the word of #regulatoryreporting that was talked about last week here on the Linkedin pages.
Firstly The Commodity Futures Trading Commission (CFTC) has confirmed the 29th of January, 2024 was the official go live date for the new ANNA DSB unique product identifier. This is great news for market participants as it will help to increase transparency and access to information, while reducing the costs associated with regulatory compliance.
The ANNA DSB product identifier is a key component of the CFTC's efforts to modernize the derivatives markets. It is designed to be a single reference number that can be used to identify all derivatives products transacted across different jurisdictions and exchanges. This will make it easier to identify derivatives instruments and securities, allowing investors to make informed decisions.
The new system also helps to improve market transparency, as it will allow regulators to better monitor trades and ensure compliance with regulations. It will also reduce the cost for both regulators and market participants by reducing the amount of time and resources needed for compliance.
They were quoted as saying "We are excited to have this important milestone behind us and look forward to the many benefits the ANNA DSB product identifier will bring"
For more information about UPI please see the link here to the knowledge base at Point Nine https://www.p9dt.com/knowledge-base/emir-trade-or-position-uti/
Some news from The Financial Conduct Authority (FCA) who is seeking views on what regulatory change might help the UK’s asset management industry innovate, better support the investors it serves and boost competition.
see the full article here, https://www.fca.org.uk/news/press-releases/fca-seeks-views-updating-asset-management-regulationSincerely,
There is another significant reporting requirement introduced by ESMA and that is the Notification to NCAs on Data Quality Issues.
Please also see our information latest blog at Point Nine about this important issue
If you are reporting in MIFiR watch my latest post about Point Nine's new Reconciliation tool and why this is important. There has been a lot of posts about data quality issues which is why I put out my own post out about this issue that you can find on the link here. https://www.dhirubhai.net/feed/update/urn:li:activity:7035984630784647168?utm_source=share&utm_medium=member_desktop
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Thank you for reading
Colin