ICMA ERCC responds to the ESMA Consultation Paper on MiFIR transaction reporting
17 January 2025 ICMA's European Repo and Collateral Council (ERCC) submitted today a response to the European Securities and Markets Authority (ESMA) consultation on the review of RTS 22 on transaction data reporting under Art. 26 and RTS 24 on order book data to be maintained under Art. 25 of MiFIR published on 3 October 2024.
The targeted ERCC response focuses on the SFT-specific aspects of the consultation, reiterating long-standing concerns about the inclusion of certain SFTs in the scope of MiFIR transaction reporting, namely transactions with EU central banks. To ensure consistency with SFTR and address practical concerns with the applicability of the MiFIR framework to SFTs, the ERCC calls for an exclusion of all SFTs from MiFIR reporting. The consultation deadline was initially 3 January 2025 but has been extended to 17 January 2025.
