On 31 October 2025, the Bank of England (BoE) and Financial Conduct Authority (FCA) (the authorities) published final versions of additional Q&As in relation to derivative reporting requirements under the UK European Market Infrastructure Regulation (UK EMIR) having consulted on draft Q&As in August 2025.

Background

The authorities explained that derivatives data reported to them under UK EMIR provides transparency in relation to the UK derivatives market for systemic risk and financial stability monitoring purposes.

The authorities also set out that to support this reporting by firms they share guidance in the form of Q&As and are now publishing two additional Q&As developed in response to issues identified by market participants.

Key changes

The authorities highlighted that considering feedback to the consultation they had made amendments to both of the Q&As, in particular to:

  • Q&A 4.14 – when is it acceptable to report with a technical ISIN?: include an additional scenario alongside those originally specified in the draft Q&As, and an additional technical ISIN was also created for use in that scenario.
  • Q&A 11.7 – how should a ‘FX swap’ be reported?: provide further clarification regarding FX swap types and include a table illustrating reporting expectations for ‘FX swaps’.

The authorities confirmed that the Q&As are now finalised and appended to the relevant sections of the UK EMIR reporting Q&As.