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Version date: 17 December 2020 - onwards

4.3.2.2 Scope of derivatives that can be reported at position level (paras. 225-227)

225. In the Consultation Paper ESMA asked if there are any products other than derivatives concluded on a venue and CfDs that may need to be reported at position level.

226. The responses were split, with three respondents agreeing with the proposed scope, three respondents suggesting that all OTC products, including CFDs, should be reported at trade-level only, one respondent highlighting that position-level reporting should also be allowed for derivatives concluded at third country venues similar to regulated markets that may or may not be deemed equivalent under MiFIR, one respondent asking if position-level reporting will also cover OTC bilateral trades subject to clearing, which are subsequently netted by CCP and one respondent stating that equity portfolio swaps should also be in scope.

227. In the light of diverging views ESMA believes that the possibility to report at position level should be maintained for the derivatives that are already reported in this way (ETDs, centrally cleared OTC derivatives netted by CCPs, CfDs), however the decision to report at position level would need to be agreed by both counterparties (see paragraph 224).