Market Watch No 34 has been published by the FSA.
An interesting article tucked away on page 2 advises that transaction reporting firms need a BIC code. Some firms will already have one but if this is not the case with your firm, and you transaction report, then you will need to apply to SWIFT for a BIC. Once obtained, the BIC must be advised to the FSA’s transaction monitoring unit. Please see the article for further details.
Elsewhere it is confirmed that the alternative instrument identifier (AII) implementation project has been delayed (again). Until it is up and running firms are not obliged to report securities derivatives transacted on regulated markets that do not use an ISIN (non-securities derivatives do not need to be reported).
