The International Swaps and Derivatives Association (ISDA) announced it will extend its ISDA Digital Regulatory Reporting (DRR) solution to cover transaction reporting requirements under the EU and UK Markets in Financial Instruments Directive and Regulation (MiFID/MiFIR), and is working with The Depository Trust & Clearing Corporation (DTCC) to integrate ISDA DRR into DTCC’s Global Trade Repository (GTR) MiFID/MiFIR Approved Reporting Mechanism (ARM). The ISDA DRR uses the Common Domain Model (CDM) to convert industry-agreed interpretations of new or amended reporting rules into machine-executable code, with the aim of making implementation more efficient and improving the accuracy and consistency of submitted reports. DTCC’s GTR ARM is intended to support MiFID/MiFIR transaction reporting in the EU and UK, subject to regulatory approval, and the collaboration is positioned to improve acceptance rates and reduce operational complexity and cost. DTCC plans to allow firms to submit transaction reports under current UK MiFID/MiFIR rules from the first quarter of 2026, subject to regulatory approvals. Revised transaction reporting requirements under the MiFID/MiFIR Review are anticipated to be implemented in the EU and the UK over the course of 2027.
ISDA 2025-05-07
International Swaps and Derivatives Association extends Digital Regulatory Reporting to EU and UK MiFID MiFIR and plans integration with DTCC GTR reporting mechanism
The International Swaps and Derivatives Association (ISDA) will expand its Digital Regulatory Reporting solution to include EU and UK MiFID/MiFIR transaction reporting, collaborating with The Depository Trust & Clearing Corporation (DTCC) to integrate this into DTCC’s Global Trade Repository MiFID/MiFIR Approved Reporting Mechanism. This initiative aims to enhance report accuracy and efficiency, with DTCC planning to support UK MiFID/MiFIR transaction reports from Q1 2026, pending regulatory approval, and revised requirements expected in 2027.