N19/20 - Brexit Transaction Reporting Preparation

Introduction

1.        London Stock Exchange ("the Exchange") is required to submit transaction reports to the Financial Conduct Authority for all trades executed on Exchange by Third Country member firms.  Following the end of the Brexit transition period on 31 December 2020, this will include trades executed by member firms located within the European Economic Area ("EEA"), unless the firm has confirmed that all their business is conducted through a registered branch office in the United Kingdom ("UK").  A firm's status as a Third Country member firm will be unaffected by any equivalence that may or may not be concluded between the UK and the European Union.

           Continued access to trading services

2.        The purpose of this Notice is to remind Third Country member firms of the requirement to complete transaction reporting conformance testing.  In the event that a Third Country member firm does not complete conformance testing by close of business on 18 December 2020, the Exchange will be unable to guarantee the member firm's continued access to its trading services from 4 January 2021.

3.        For further information please contact the Technical Account Management team for on-boarding and to arrange testing on +44 (0) 20 7797 3939 or [email protected].  The LSEG Transaction Reporting Guide for Third Country Firms is available on the Exchange's website.

Claire Foster 

Head of LSE Plc Regulation and Compliance 

This Stock Exchange Notice will be available on the website at: https://www.londonstockexchange.com/resources/london-stock-exchange-notices

Calls to London Stock Exchange plc may be recorded to enable London Stock Exchange to carry out its regulatory responsibilities