ESMA Q&A 1710 — Q&A — Transaction reporting [Answer Published]

Transaction reporting

Question

Are both legs of a swap reportable, when one leg contains an index such as LIBOR or EURIBOR?

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Answer

[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 24.10]

In the case of a swap, where one leg contains e.g. LIBOR or EURIBOR, it is key for competent authorities to have visibility of both legs of the reported swap. Therefore in transaction reports for an OTC swap, where one leg of a swap contains at least one reportable financial instrument, also the complementing leg of the given swap containing indices, such as LIBOR or EURIBOR, should be identified in a transaction report, as shown in Example 106 in section 5.35.7.1 of the ESMA Guidelines.

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Source: ESMA original document