Friday May 3 2024
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
Country: Netherlands
The Netherlands Authority for the Financial Markets (AFM) announced that the revised reporting obligation under EMIR Refit will officially come into effect from 29th April 2024. From that date, market participants must report derivative transactions in accordance with the new reporting rules.
In addition, a new notification form has been launched for the notification of incorrect transaction reporting. The amended rules aim to increase transparency and stability in the capital markets. The most important changes:
- The introduction of a unique product identifier (UPI) to distinctly identify derivative products.
- The addition of more data fields for more granular reporting of the derivative transaction details.
- More transaction identification fields to improve traceability of the derivative transaction during its lifecycle.
- The introduction of notification guidelines of significant issues, in relation to incorrect reporting, to the relevant competent authority
Click on the above link for further information