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---
title: "ESMA Q&A 1596 — Q&A — Data disaggregation [Answer Published]"
shortTitle: "ESMA Q&A 1596 — Q&A — Data disaggregation [Answer Published]"
answer_id: ESMA_QA_1596
topic: "Data reporting services providers"
status: "Answer Published"
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instrument_type: qa
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regulation: "MiFIR"
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date: 18 November 2016
source_link: https://www.esma.europa.eu/publications-data/questions-answers/1596
lifecycle: "Answer Published"
text_version: "ESMA Q&A register, 18 November 2016"
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---

**Answer by ESMA, published in its Q&A tool · not legislation · published 18 Nov 2016 [Answer Published]**

*Answer Published · ESMA Q&A register, 18 November 2016 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1596)*

| | |
|---|---|
| **Full title** | ESMA Q&A 1596 — Q&A — Data disaggregation \[Answer Published\] |
| **Prepared by** | ESMA |
| **Published by** | ESMA, in the ESMA Q&A tool |
| **Reference** | ESMA_QA_1596 |
| **Document type** | Q&A |
| **Legal nature** | Not legislation |
| **Addressees** | Not stated in the document |
| **Dates** | Published 18 November 2016; question submitted 18 November 2016 |
| **Legal basis** | MiFIR |
| **Related instruments** | None recorded |
| **Text on this page** | Word for word — the full text of the ESMA publication |

**Data disaggregation**

### Question

Article 1(1)(b) of RTS 14 requires disaggregation by country of issue for shares. How should “country of issue” be interpreted? Is this also required for non-EU countries?

***

### Answer

\[ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 2.3\]

Country of issue should be interpreted as the home Member State of the issuer, as defined in Article 2(1)(i) of the Transparency Directive\[1\], including where the issuer is incorporated in a third country.

\[1\] Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1596)