In general, the majority of respondents supported CESR’s preferred option where transactions on OTC derivatives would be reported to trade repositories after these will have been established, registered (or recognised for those not located in the EU) and their regulatory regime defined. The preferred option also foresees that investment firms retain the possibility of complying with their transaction reporting obligations with respect to OTC derivatives under MiFID provisions. CESR also received positive feedback regarding its proposal to extend, through changes in Article 25 of MiFID, the scope of transaction reporting obligations to financial instruments that are admitted to trading only on MTFs and to OTC derivatives whose value depends on the performance of a financial instrument that is admitted to trading on a regulated market (or an MTF) or on the credit risk of a single issuer of such financial instruments.

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