FpML Issues Tracker

1255: Enhancement for Brexit using the reportingRegime tag

August 8, 2018

Urgent

resolved

Tweak

Have not tried

Schema

danielaranias

lyteck

Summary

Currently, trading venues operate out of two main regions: a SEF under Dodd-Frank and an MTF/OTF under MiFID II. These venues are preparing for Brexit, which will involve creating another entity and a third region.

We are looking for the best way to consume this data piece, store it, and pass it on to FCMs so that they can identify the region of the execution facility.

Can you add another value for that in the reportingRegime tag?

Many thanks

 

Notes:

  • danielaranias

    08/08/18 10:31 am

    We are using 5.9 fpml version

  • lyteck

    08/08/18 10:57 am

    Hi Daniel. We take receipt of your request.

    Lyteck / The FpML Team

  • matthews@traiana.com

    08/21/18 10:09 am

    Hello – Do we have any updates on whether this will be implemented?

    Thanks

  • danielaranias

    09/02/18 3:13 am

    Hi,

    It will be a great help to know what is the current status?

    Many thanks!

  • lyteck

    10/03/18 9:37 am

    Hi Daniel:

    • The FpML Reporting Woking Group (RPTWG) discussed the topic and concluded FpML cannot make any recommendation or add any new code at this point. The group is not aware of any regulation yet. There is no clarity on what the name of a UK execution facility would be called.

    We discussed briefly the location, should we need to add a value at some point:
    • The affected element would be the partyTradeInformation/executionVenueType
    • A new code would be added to the execution venue type scheme http://www.fpml.org/coding-scheme/execution-venue-type to indicate an execution facility in the context of Brexit.

    Are you aware of pending regulation / discussions on the matter? Any information that would help the RPTWG.

    I am going to close the ticket for now although it will need to be addressed when more concrete information is available which I assume will be before March 2019.

    We added Brexit on our regulatory roadmap* so to remember this needs to be addressed in FpML.

    Regards,
    Lyteck / The FpML Team

    *(please email me at llynhiavu@isda.org if you want a copy)

    **sorry David for the delay in posting here. I had sent you an email directly with the information above though I am not sure if you received it.

  • lyteck

    10/10/18 4:59 pm

    Hi David,

    Not sure if you got my earlier update?

    If you don’t have any objection to defer Brexit coverage to the FpML Reporting WG (it is now on the roadmap for the working group to implement), I propose we close the issue. Barring any objections, I plan to close the ticket in a week’s time. It can certainly be reopened again or a new issue can be submitted.

    Regards, Lyteck

  • The issue is closed. Only administrators could reopen it.