CPMI and IOSCO consult on Harmonization of First Batch of Key OTC Derivatives Data Elements
On September 2, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report on the harmonization of the first batch of key OTC derivatives data elements (other than the unique transaction identifier (UTI) and the unique product identifier (UPI)).
The report focuses on a first batch of key data elements (other than UTI and UPI) that are considered important for consistent and meaningful aggregation on a global basis. The report provides information on the guiding principles adopted to develop the report and on the differentiation between first and second batch of data elements other than UTI and UPI. Also set out is the harmonization proposal in individual tables, data element per data element. The CPMI and IOSCO are working on a second batch of key data elements in parallel to this report.
ESMA Consults on Remaining MiFID II Draft ITS
On August 31, the European Securities and Markets Authority (ESMA) published a consultation paper on the remaining draft implementing technical standards (ITS) under the MiFID II Directive (2014/65/EU) and the Markets in Financial Instruments Regulation (Regulation 600/2014) (MiFIR).
The consultation will close on October 31, 2015, and focuses on three key areas: the timing and format of publications and communications in case of suspension and removal of financial instruments from trading on trading venues; notification and provision of information for data reporting services providers; and weekly aggregated position reports for commodity derivatives, emission allowances and derivatives thereof to deliver transparency and support monitoring of the new position limits regime.
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