ESMA - more clarifications on the way

Weeks after the start of the reporting obligation, the regulators are now beginning not only to provide additional guidelines of how to report certain trade details to harmonize, improve quality and data consistency across reporting participants but also to involve expert panels on how to treat certain instrument types and its classification pursuant to EMIR/MiFID.

ESMA's Q&A document. We will soon inform our clients about any potential impact or changes to their reporting obligations.

EC's response on classification of financial instruments. The initial letter from ESMA to the European Commission was addressing - amongst other topics - also the delineation between FX spot and FX forward transactions. Unfortunately no clarification was provided yet, this issue is still pending.