On July 20, the European Securities and Markets Authority (ESMA) published an updated version of its technical reporting instructions relating to transaction reporting under the Markets in Financial Instruments Regulation (MiFIR).

MiFIR extends the transaction reporting requirements under the Markets in Financial Instruments Directive (MiFID) in terms of the scope of instruments in which transactions will be required to be reported as of January 3, 2018, as well as the scope of information that should be provided for each transaction. Further details of the transaction reporting regime are set out in the regulatory technical standards (RTS) on reporting obligations under Article 26 of MiFIR.

The Instructions provide information on:

• the overall process for transaction data reporting;

• the common technical format for data submission; and

• the common set of data quality controls to be applied to each transaction report.