MiFID II and MiFIR increases the scope of regulatory requirements on reporting entities in the following areas: reference data, transparency, double volume cap and transaction reporting. Therefore, the release of the technical requirements and reporting templates further serve market participants in their operations under MiFID II and MiFIR.
In order to ensure a smooth transition from the current reporting regimes, under MIFID I, ESMA will begin data collection in advance of the date of application of MIFID II and MIFIR. As you may be aware, from the 3rd of January 2018, MIFID II and MIFIR will apply within Member states and, by starting data collection early, ESMA aims to provide the relevant reporting entities with the appropriate system implementation time prior to go-live.
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