Our revised rules in new SUP 17 set out what transactions are reportable to the FSA. In essence, transaction reports are required for transactions involving any instrument that is traded on a regulated market or prescribed market or is referenced to an instrument traded on a regulated market or prescribed market. The prescribed markets include AIM and the Plus-Quoted Market. This therefore encompasses OTC derivative transactions and derivative transactions referenced to instruments traded on regulated markets.

Firms entering into transactions in the course of providing a service of portfolio management in accordance with SUP 17.2.2 have an exemption from transaction reporting where they have reasonable grounds to assume the broker will report the transaction. Such firms must be mindful of the fact that many securities trading on non EEA markets are dual listed within the EEA, meaning that if a transaction is entered into via a non-EEA broker, a transaction report will be required and the exemption under SUP 17.2.2 G will not apply.

It is the responsibility of firms to establish an appropriate process for identifying what transactions are reportable to us. Firms can use data vendors to obtain a list of MiFID reportable instruments and can use these lists to determine what transactions they report to us and to to establish procedures for identifying reportable transactions which may result in over-reporting.

As stated in PS07/2 there are no restrictions on over-reporting of transactions. Such transactions will be accepted by our system, however, firms should check with their ARM to understand whether transactions that are not reportable under MiFID are rejected or not.
We recognise that there is a real possibility for inconsistencies between the list of financial instruments supplied by the various data vendors and the list that we propose using. Where firms have acted in good faith and have undertaken appropriate steps to identify and submit reportable transactions we would not take any action in relation to discrepancies from our list.

Useful Links

CESR MiFID databases - This database contains details of all equity instruments admitted to trading on a Regulated Market and is updated on a regular basis. This database also lists all Regulated Markets, Systematic Internalisers, Multilateral trading Facilities and Central Counterparties. Please note however that this database does not contain details of all financial instruments reportable under SUP 17.1.4. Firms will therefore need to make other arrangements to obtain details of financial instruments admitted to trading on UK prescribed markets (AIM and PLUS) and equity- and debt-related derivatives and debt instruments admitted to trading on a regulated market.

This database is a compilation of information from all CESR members, who are responsible for the content.

For documentation concerning the database on Shares admitted to trading on EU Regulated Markets, please refer to the documents published on CESR''''s website 3 July and 19 October 2007, in the section Expert Groups/MiFID.

UKLA Official List: - Details of securities currently listed on the Official List of the UK Listing Authority.