{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2017-04-03","gaps":[],"covered":["ESMA Q&A 1550 — Q&A — Transparency - OTC transactions reported to APA [Answer Published] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing","url":"https://www.headlesslaw.com/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing","title":"ESMA Q&A 1550 — Q&A — Transparency - OTC transactions reported to APA [Answer Published]","family":"l3","work_id":"spaces/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing","status":"answer published","force_status":null,"date_state":"current","requested_date":null,"as_of":"2026-11-01","applies_from":null,"application":null,"version_label":"ESMA Q&A register, 3 April 2017","check":{"against":"the ESMA publication","on":"2026-10-26"},"check_result":"matched","official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1550","valid_from":"0001-01-01","valid_until":null,"revision":1,"content_id":"1108c3e9513071bf","change_date":null,"nearest_versions":["2017-04-03"],"first_text_date":null,"correction_applies":false,"versions":["2017-04-03"],"version_url":"https://www.headlesslaw.com/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing/versions/2017-04-03","revision_url":"https://www.headlesslaw.com/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing/versions/2017-04-03/rev/1108c3e9513071bf","versions_url":"https://www.headlesslaw.com/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing/versions","relations_url":"https://www.headlesslaw.com/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing/relations","source_line":"Answer by ESMA, published in its Q&A tool · not legislation · published 3 Apr 2017 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2017-04-03","question_submitted_on":"2017-04-03","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1550, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1550, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1550","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifir/level-3/q-and-a/esma/esma-qa-1550-transparency-otc-transactions-reported-to-apa-outsourcing.md","body_sha256":"2824b5cca0d4e63d339da883fbf36439dd85860c627d7d58a58fe68021781fca"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1550 — Q&A — Transparency - OTC transactions reported to APA [Answer Published]\"\nshortTitle: \"ESMA Q&A 1550 — Q&A — Transparency - OTC transactions reported to APA [Answer Published]\"\nanswer_id: ESMA_QA_1550\ntopic: \"Equity transparency\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFIR\"\nmifir_level3: true\nmica_level2: false\nlegal_basis: \"Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2)\"\ndate: 3 April 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1550\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 3 April 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1550\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1550: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2017-04-03\"\n  question_submitted_on: \"2017-04-03\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1550, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1550, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Apr 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 3 April 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1550)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1550 — Q&A — Transparency - OTC transactions reported to APA \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1550 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 3 April 2017; question submitted 3 April 2017 |\n| **Legal basis** | Regulation 2017/583- RTS on transparency requirements in respect of non-equity financial instruments (RTS 2) |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Transparency - OTC transactions reported to APA - outsourcing post-transparency reporting requirement**\n\n### Question\n\nIn the case of OTC transactions that are reported to an APA by the investment firm selling the financial instrument, is it possible for the investment firm to outsource the post-transparency reporting requirement?\n\n***\n\n### Answer\n\n\\[ESMA 70-872942901-35 MiFIR transparency Q&A, Q&A 2.3\\]\n\nYes, the investment firm can outsource the reporting of OTC transactions to an APA to a third party. However, the investment firm will remain fully responsible for discharging its obligations under MiFID II/MiFIR. Moreover, in case of outsourcing the reporting of OTC transactions to a third party, the investment firm has to ensure that the third party informs the APA of the transparency regime applicable to the investment firm subject to the reporting obligation. This ensures that the APA is in a position to make the transaction public using the transparency regime applicable to the investment firm subject to the reporting obligation.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1550)\n"}