Esma has reaffirmed the use of Isins as the identifier for reporting under Mifid II
By Joshua Satten, director of business consulting at
Sapient Global Markets
The adoption of over-the-counter (OTC)
clearing and subsequent usage of clearing houses has driven the
mandate for standardised OTC derivatives identifiers in order
to improve the ability to move trades and manage market and
price risk, while also supplying transparency to meet
regulatory reporting requirements.
As noted in the recent
FOW story here, the European Securities and Markets
Authority (Esma) has, despite vocal opposition to the plan,
reaffirmed the use of the International Securities
Identification Number (Isin) as the identifier for reporting
under Mifid II. The International Standards Organisation (ISO)
is also currently reviewing industry working group
So why is the issue causing so much
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