The September 2017 edition of the FCA’s Market Watch newsletter on conduct and reporting issues has been published (Market Watch 53).  It covers:

• Legal Entity Identifiers (LEI) – Market Watch 53 confirms the requirement that all firms subject to MiFID II transaction reporting obtain an LEI and update it annually. It also confirms that in-scope firms must ensure all eligible clients have an LEI prior to undertaking transactions for them.  Market Watch 53 provides instructions on how to obtain an LEI, including a list of LEI providers that can be found here.

and

• Market data and the Market Data Processor (MDP) – Market Watch 53 announces the launch of the FCA MDP to which data will be submitted as transaction reports, instrument reference data, transparency reports, double volume cap reports and commodity derivative position reports. In particular, Market Watch 53 highlights the industry test environment (ITE) and MDP Entity Portal through which sample data can be requested. The MDP is relevant only for ARMs, APAs, CTPs, trading venues, SIs other firms that directly submit data to the FCA. Buy-side firms relying upon relevant data service providers do not need to on-board. Market Watch 53 also covers the obligation on SIs to provide instrument reference data for reportable instruments traded on their systems.

If members have any questions, please contact Adam Jacobs-Dean, Oliver Robinson or Adele Rentsch.