General clarifications

244. As specified in the ITS on reporting, the derivatives that are admitted to trading or traded on a trading venue or a systematic internaliser should be identified in field 7 in Table 2 using an ISO 6166 International Securities Identification Number (ISIN) code. The remaining derivatives should be identified in field 8 of Table 2 using an ISO 4914 Uniqie Product Identifier (UPI) code. In this way each derivative product can be uniquely identified, while the counterparties are required to provide only one way of identification for a given product and consistency with MiFIR reporting requirements is retained.

245. Additionally, the counterparties should classify all derivatives using the ISO 10692 Classification of Financial Instrument (CFI) code (Field 9 of Table 2). Counterparties should always use official sources for the CFI. For this purpose, the CFI assigned by ANNA Derivatives Service Bureau (ANNA DSB) or the relevant National Numbering Agency (NNA) should be used. Further information can be obtained from ANNA DSB (https://www.anna-dsb.com/ufaqs/cfi-code/), from ANNA (http://www.annaweb.org/standards/about-identification-standards/), or from the relevant NNA of the derivative.

246. Counterparties should report only valid CFIs. If the CFI does not exist in the official sources, then it should be agreed between the counterparties, as the CFI is a reconciliable field.

Identification of FX swaps