Article 25(3) of the Markets in Financial Instruments Directive (MiFID) provides that investment firms shall report details of transactions executed in financial instruments admitted to trading on a regulated market to their competent authorities.
The Committee of European Securities Regulators (CESR) has published a call for evidence seeking views on which classification and identification standards should be used for OTC derivative instruments.
At this stage, CESR is mainly interested in the scope of instruments that are currently reported in the Member States that have used Recital 45 of MiFID to extend the scope of transaction reporting. Therefore, the call for evidence is focused on OTC derivatives where the underlying instruments are securities admitted to trading on regulated markets in the EEA. The types of instrument currently collected are, for example contracts for difference, spread bets, credit default swaps, equity swaps, options, futures, warrants, etc.