Derivative Transaction Reporting

The FSA has issued consultative guidance on the reporting of on-exchange derivatives that are conducted through exchange platforms.

Current guidance depends upon the fungibility of the instrument and in certain circumstances can leave firms with the choice of reporting the transaction as on-exchange or as OTC.

The publication revises previous guidance and removes the fungibility element.

Note that the guidance, subject to any post-consultation period changes, will be effective from the Zen hard go-live date (see article on Zen in this Regulatory Roundup).

Firms may need to consider whether any system changes are needed before 13 November.

The consultation period ends 2 June.

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