The purpose of the guidelines is to provide guidance to Investment Firms [As defined in Article 4(1)(1) of MiFID II.], Trading Venues [As defined in Article 4((1)(24) of MiFID II.], ARMs [As defined in Article 4(1)(54) of MiFID II.] and Systematic Internalisers (SIs) [As defined in Article 4(1)(20) of MiFID II.] on compliance with the reporting and order record keeping provisions of MiFIR and Commission Delegated Regulation (EU) 2017/590, Commission Delegated Regulation (EU) 2017/580 and Commission Delegated Regulation (EU) 2017/574 [COMMISSION DELEGATED REGULATION (EU) 2017/574 of 7.6.2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the level of accuracy of business clocks.]. They are designed to ensure consistency in the application of these requirements. In particular, the guidance is focused on the construction of transaction reports and of the order data records field by field for various scenarios that can occur. Given the wide range of potential scenarios, these guidelines do not provide an exhaustive list of all scenarios. However, persons subject to these guidelines should apply the elements of the most relevant scenario to construct their records and reports. All the concepts specified in the guidance document apply solely to Article 25 of MiFIR on order data record keeping obligations, Article 26 of MiFIR on transaction reporting obligations and Article 50 on synchronisation of business clocks of MiFID II.

All names and surnames used in these guidelines are fictitious.