Cash Market Readiness Newsflash | REMINDER - Requirements for the flagging of orders according to MiFID II and MiFIR – identification of natural persons from the United Kingdom after 31 December 2020 (Brexit)

Release date: 04 Jan 2021

Cash Market Readiness Newsflash | REMINDER - Requirements for the flagging of orders according to MiFID II and MiFIR – identification of natural persons from the United Kingdom after 31 December 2020 (Brexit)Cash Market Readiness Newsflash

Dear Cash Market Participant,

This Newsflash is a reminder regarding the changed flagging requirements for orders according to MiFID II and MiFIR and the identification of natural persons from the United Kingdom after 31 December 2020 (Brexit).

As published in Xetra Circular 083/20, the identification for natural persons from the United Kingdom has changed after 31 December 2020, therefore an update of trader and client reference data is needed.

Until 31 December 2020, natural persons from the UK have been identified by means of the National IDs "National Insurance Number" (first priority) or by "CONCAT" (second priority) (Art. 6 para. 2 of the Commission Delegated Regulation 2017/590). 

With effect from 1 January 2021 (Brexit), UK nationals must be identified in accordance with the requirements for natural persons from third countries. 

Therefore, the "passport number" (first priority) or "CONCAT" (second priority) must be used.

All Trading Participants are obliged to upload the short/long code mappings with Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) in accordance with ESMA requirements. Old data records of Trading Participants are to be updated accordingly as of today. 

Valid short/long code mappings will be made available to Trading Participants in the daily report TR161.

Please note that all transaction reporting submitted to the regulators with old priorities will have to be corrected, backdated to January and re-reported.
 

Kind regards,

Your Client Services Team
 

Recipients:

All Xetra® Members and Vendors

Contact:

For functional inquiries: client.services@deutsche-boerse.com or sales.cashmarket@deutsche-boerse.com;
for Compliance-related inquiries: regulatory.processing@deutsche-boerse.com;
for inquiries with technical background: cts@deutsche-boerse.com

Related circular: 

Xetra Circular 083/20

Web:

www.xetra.com