ESMA_QA_1705

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1705

---

Regulatory Context

Regulation : MIFIR

Level 1 Regulation: Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: * Transaction reporting

Subject Matter: Transaction reporting

---

Question

Submission Date: 05 October 2017

In the case of a transaction on an OTC derivative contract (MIC code-field 36 = “XXXX”. These are all derivatives falling under MiFIR Article 26(2)(b) and (c).), what is expected in the transaction report when any of the following characteristics of that contract is changed: fields 50 to 56 of annex 2 of CDR 2017/590?

---

ESMA Answer

Answer Date: 05-10-2017

[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 24.5] When any of those characteristics of the contract change, the transaction thereof should be considered as a new contract and therefore two transaction reports are expected:

One materializing the closing out of the initial derivative contract (swapping the buyer and the seller). One for the opening of the new contract with the new characteristics.

---

This document was automatically extracted from the ESMA EMIR Q&A database.