The Global Financial Markets Association, via its Global Foreign Exchange Division, together with the Association for Financial Markets in Europe, the Futures Industry Association and the International Swaps and Derivatives Association, submitted a joint response to the European Securities and Markets Authority’s (ESMA) call for evidence on a comprehensive approach to simplifying financial transaction reporting. The response supports ESMA’s objective of reducing operational burden and recommends clearer delineation of reporting obligations by instrument, a move to single-sided reporting, and a targeted review of reportable fields to improve proportionality and efficiency across transaction reporting frameworks. The groups frame the proposals as a way to eliminate duplication, reduce costs and align European Union practices with global standards.
Global Financial Markets Association 2025-09-19
Global Financial Markets Association and other trade bodies submit response urging ESMA to simplify transaction reporting
The Global Financial Markets Association and other industry groups responded to the European Securities and Markets Authority's call for evidence on simplifying financial transaction reporting. They support reducing operational burdens through clearer reporting obligations, single-sided reporting, and a targeted review of reportable fields. The proposals aim to eliminate duplication, reduce costs, and align EU practices with global standards.