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  2. Point in time
    2019-02-13

SUP 17A.1 Application

SUP 17A.1.1 R RP

1This chapter applies to:

  1. (1)

    a MiFID investment firm (excluding a collective portfolio management investment firm) which:

    1. (a)

      executes transactions in a reportable financial instrument; and

    2. (b)

      is required under article 26(1) of MiFIR to report its transactions to the FCA;

  2. (2)

    an operator of a trading venue:

    1. (a)

      through whose systems and platforms a transaction in a reportable financial instrument is executed by a person not subject to MiFIR; and

    2. (b)

      which is required under article 26(5) of MiFIR to report such transactions to the FCA;

  3. (3)

    a third country investment firm which executes transactions in a reportable financial instrument; and

  4. (4)

    a systematic internaliser or an operator of a trading venue which is required under article 27 of MiFIR to supply identifying reference data relating to financial instruments traded on its system or trading venue to the FCA.

[Note: article 26 of MiFIR and MiFID RTS 22 contain requirements regarding transaction reporting that are directly applicable to a firm in SUP 17A.1.1R(1) or (2), and to an ARM or an operator of a trading venue which acts on behalf of a MiFID investment firm subject to article 26(1) of MiFIR]

SUP 17A.1.2 G RP

1GEN 2.2.22AR has the effect of requiring third country investment firms to comply with the transaction reporting requirements in article 26 of MiFIR and MiFID RTS 22 as though they were MiFID investment firms.

[Note: article 27 of MiFIR and MiFID RTS 23 contain requirements about the supply of reference data that are directly applicable to a systematic internaliser in relation to financial instruments traded on its system or a trading venue in relation to financial instruments admitted to trading on a regulated market or traded on an MTF or OTF]

SUP 17A.2 Connectivity with FCA systems

SUP 17A.2.1 R RP

1The following firms or operators of trading venues must deal with the FCA in an open and co-operative way when establishing a technology connection with the FCA for the submission of transaction reports and/or the supply of reference data:

  1. (1)

    a firm in SUP 17A.1.1R(1) or 17A.1.1R(3) that chooses to submit its reports directly to the FCA instead of using an ARM;

  2. (2)

    an operator of a trading venue in SUP 17A.1.1R(2), other than a UK RIE that is not itself an ARM; and

  3. (3)

    a firm or operator of a trading venue in SUP 17A.1.1R(4), other than a UK RIE.

SUP 17A.2.1A G RP

2The FCA expects a systematic internaliser that will be supplying the FCA with financial instrument reference data in respect of a financial instrument traded on its system that is not admitted to trading on a regulated market or traded on an MTF or OTF to establish a technology connection with the FCA for the supply of that reference data.

SUP 17A.2.1B G RP

2A firm in SUP 17A.1.1.R(4) may use a third party technology provider to submit to the FCAfinancial instrument reference data in respect of a financial instrument traded on its system provided that it does so in a manner consistent with MiFID and MiFIR. Firms will retain responsibility for the completeness, accuracy and timely submission of the data. A firm should be the applicant for, and should complete and sign, the FCA MDP on-boarding application form.

SUP 17A.2.2 R RP

To ensure the security of the FCA’s systems, a firm or operator of a trading venue in SUP 17A.2.1R must:

  1. (1)

    sign the MIS confidentiality agreement at MAR 9 Annex 10D; and

  2. (2)

    send it by email it to MDP.onboarding@fca.org.uk or post an original signed copy to the FCA addressed to:

    The Financial Conduct Authority

    FAO The Markets Reporting Team

    12 Endeavour Square3

    London, E20 1JN3.

SUP 17A.2.3 G RP

Once the FCA receives the MIS confidentiality agreement from the firm or operator of a trading venue, the FCA will:

  1. (1)

    provide the firm or operator with the Market Interface Specification (MIS); and

  2. (2)

    request the firm or operator to:

    1. (a)

      confirm to the FCA that it can satisfy these specifications by completing the FCA MDP on-boarding application form at MAR 9 Annex 7D; and

    2. (b)

      provide the completed form and any relevant documents to the FCA together with the associated fee in FEES 3.2.7R.

SUP 17A.2.4 R RP

The firm or operator of a trading venue must confirm to the FCA that it can satisfy the FCA’s technical specifications before it can establish a technology connection with the FCA for the submission of transaction reports and/or the supply of reference data.

SUP 17A.2.5 G RP

Where an ARM is used to satisfy a MiFID investment firm’s or a third country investment firm’s transaction reporting obligations in accordance with article 26 of MiFIR or GEN 2.2.22AR, MAR 9 applies.