In May 2014, the FCA published Guidance Consultation 14/2: Revision of Transaction Reporting User Pack Version 3, proposing clarification to certain parts of the transaction reporting user pack. The FCA has now published Finalised Guidance 15/3: Version 3.1 of the Transaction Reporting User Pack, alongside a document highlighting the changes.

The areas that have been clarified include:

  • that the transaction reports a firm sends for its transactions must accurately reflect the change in position for the firm and its client(s) resulting from the transactions;
  • that a firm hitting its own order on a trading venue should transaction report the resultant transaction;
  • how the unit price should be reported for different instruments;
  • how to report the venue for a transaction; and
  • what we expected for transaction reporting arrangements within firms.

View FG15/3 – Version 3.1 of the Transaction Reporting User Pack (TRUP), 6 February 2015