MiFIR Transaction Reporting Validation Rules Update

MiFIR Transaction Reporting Validation Rules Update

ESMA has recently published a document outlining updated validation rules for MiFIR Transaction Reporting. The changes are applicable from Q2 2022 with the exact date for go live to be confirmed at a later stage. Most of the updated validation rules are minor tweaks and clarifications including checks that the date of birth fields of the Buyer/Seller and Buyer/Seller decision should not be later than the trade date, that the MIC also needs to be valid in the reference data on transaction date, and that the ‘EntityStatus’ shall be active on trading date for Buyer/Seller and Buyer/Seller Decision Maker ID codes. The ESMA update, including a change log with all updated validations, can be found here.