08 Dec 2020

Eurex

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)

Eurex Circular 099/20 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)


1.  Introduction

With this circular, we would like to draw your attention to the forthcoming change under ESMA requirements for the identification of natural persons from the United Kingdom (UK) concerning the obligation of Trading Participants to properly provide the data to be supplied under Directive 2014/65 EU and Regulation 600/2014. 

Eurex Frankfurt AG will

  • adapt the validation rules in its upload functionality for National IDs of natural persons from the UK to the ESMA requirements for third countries as of 4 January 2021, and
  • validate the short/long code mappings uploaded by the Participant for the changed ESMA requirements for UK nationals from 4 January 2021

2.  Required action

Trading Participants located in the UK are obliged to upload the short/long code mappings with Eurex Frankfurt AG in accordance with ESMA requirements. Old data records of Trading Participants located in the UK are to be updated accordingly from 4 January 2021. Valid short/long code mappings will be made available to Trading Participants in the daily report TR161.

Trading Participants located in the UK who are using the upload functionality in the Member Section can use a current non-EU country code for testing the new long codes. Validation parameters cannot be decoupled for production and simulation.

Trading Participants located in the UK who are using the SFTP upload functionality will be able to conduct tests after the batch in the simulation environment from 8 December 2020. 

Authorised traders with a UK nationality should arrange for their National ID to be updated immediately by contacting their Key Account Manager at customer.readiness@deutsche-boerse.com.

3.  Details

Changes to the upload functionality of Eurex Frankfurt AG

Until now, 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.


Further information

Recipients:

All Trading Participants of Eurex Deutschland and Vendors

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration

Contact:

Your Key Account Manager or customer.readiness@deutsche-boerse.com

Web:

www.eurex.com

Authorised by:

Michael Peters


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