ESMA Preps Financial Instruments Reference Data System Launch
The Financial Instrument Reference Data System (FIRDS) will go live on July 17, 2017.
Article 27 of the Markets in Financial Instruments Regulation, Article 4 of MAR, and related technical standards require trading venues and systematic internalizers to submit reference data for financial instruments to national competent authorities (NCAs), who then transmit it to ESMA for publication on its website.
From July, operators of regulated markets and multilateral trading facilities, and investment firms will be able to use ESMA’s Financial Instrument Reference Data System (FIRDS) to transmit reference data concerning financial instruments for which a request for admission to trading was made, which were admitted to trading, or were traded from July 3,2016 onwards.
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