ESMA forces FX industry to reconsider trade reporting

09/23/2013 | Risk.net (subscription required)

The European Securities and Markets Authority has forced the foreign exchange industry to rethink its approach to trade reporting under the European Market Infrastructure Regulation. An industry group had suggested that each party to a FX trade assign a unique trade identifier, which would be reconciled by the trade repository. Regulators, however, are insisting that market participants submit only one UTI to a repository for each trade.

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