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In preparation for a potential hard Brexit and the inclusion of non-EEA members, we would like to advise you of changes we will make in order to meet our transaction reporting obligations as an FCA Regulated MTF.
These changes will apply primarily to the MiFID II Identifier file that Members already use to identify the source of their orders sent to UBS MTF (short/long code EOD file). UBS MTF will add five additional columns to the existing MiFID Identifier file that is transferred between UBS MTF and its Members via SFTP.
Impacted Members will be required to complete the following fields when completing the long code short code mapping:Country of Branch, First Name, Last Name, Date of Birth, and National Identifier Subtype
These changes will apply from 1 April 2019 and will impact Members as follows:
- UK members: no impact;
- EEA members: these changes will only apply in the event of a “Hard Brexit” as at that date with the UK leaving the EU with no deal and/or implementation period that preserves the status quo;
- Non-EEA members: these changes will apply in full in all cases.
An example of a MiFID Identifier File is provided with this Market Notice, where the first five fields remain unchanged. The MiFID Identifier Management Guide published on our website at https://www.ubs.com/global/en/investment-bank/ib/multilateral-trading-facility/member-information.html will be updated accordingly. The UBS MTF test environment will be updated to accept this extended format from Monday, 11 March.
Further information on this Transaction Reporting functionality and the implementation dates for Test and Production will be communicated via Market Notice.
