ITALY: Borsa Italiana Release Guidance on MIFID II Transaction Reporting

Friday November 24 2017

On 23^rd November 2017, Borsa Italiana released two guidance documents which outline  how Transactions are to be reported under MiFID II.

The first document gives Guidelines for Transaction Reporting by Non-MiFID member firms. The document outlines that TRS  will use two main data sources in order to complete the transaction report:

• the “Trading Venue Data”, including: (i) the information included in order entry messages submitted by the Non-MiFID Member into the trading system, and; (ii) data that have been pre-registered by the Non-MiFID Member in the Member Portal;
• additional information provided by Members directly into the TRS, after the trade has been executed in the trading venue’s systems (the “Supplementary Information”).

The Second document defines how Transactions are to be reported by Non-MiFID firms which are listed on the Cash and Derivatives Markets.

The guidance declares that “Non-MiFID Member” will be required on a daily basis (during T+1) to provide Borsa Italiana with certain data to complete the transaction reports referring to trades executed during the previous trading day (T).

For additional information please click the link above