ESMA_QA_1710

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1710

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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

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Question

Submission Date: 14 November 2017

Are both legs of a swap reportable, when one leg contains an index such as LIBOR or EURIBOR?

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ESMA Answer

Answer Date: 14-11-2017

[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 24.10] In the case of a swap, where one leg contains e.g. LIBOR or EURIBOR, it is key for competent authorities to have visibility of both legs of the reported swap. Therefore in transaction reports for an OTC swap, where one leg of a swap contains at least one reportable financial instrument, also the complementing leg of the given swap containing indices, such as LIBOR or EURIBOR, should be identified in a transaction report, as shown in Example 106 in section 5.35.7.1 of the ESMA Guidelines.

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