RTS · European Commission
Commission Delegated Regulation (EU) 2017/585 of 14 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the data standards and formats for financial instrument reference data and technical measures in relation to arrangements to be made by the European Securities and Markets Authority and competent authorities
RTS 23 on financial instrument reference data: sets the content, standards and format of the data that trading venues and systematic internalisers must send to competent authorities under Article 27 MiFIR, submission deadlines, ISIN and LEI identification, and the arrangements for ESMA and competent authorities to receive, check, exchange and publish the data.
Details
| Reference | Delegated Regulation (EU) 2017/585 |
|---|---|
| Issuer | European Commission |
| Published | 31 Mar 2017 |
| CELEX | 32017R0585 |
| In force / applies from | 20 Apr 2017, 3 Jan 2018 |
Provisions it relates to
- Article 27 MiFIR · Obligation to supply financial instrument reference dataLegal basis
UK version: UK Delegated Regulation (EU) 2017/585.
Documents that refer to it
- Q&AAnsweredExplicit reference · 90%
AI summaryIn RTS 23 reference data (and related MAR reports), the issuer identifier must be the LEI of the issuer's head office, even where a branch may be eligible for its own LEI.
- Q&AAnsweredExplicit reference · 90%
AI summaryWhere RTS 23 requires an expiry date but the instrument has none (for example perpetual FX rolling spot futures), field 24 should be 9999-12-31, updated if an expiry date is later set.
- Q&AAnsweredExplicit reference · 90%
AI summaryVenue operators and systematic internalisers may enter their own LEI as the issuer in RTS 23 field 5 only for financial instruments they themselves create or issue.
- Q&AAnsweredExplicit reference
AI summaryTo report the issuer of EEA sovereign bonds in FIRDS, firms should use the LEI of the relevant sovereign entity as registered with GLEIF; ESMA lists the LEI to use for each country.
- Q&AAnsweredExplicit reference · 90%
AI summaryFor units issued by an AIF or UCITS, RTS 23 field 5 should carry the fund's own LEI, and for umbrella structures the LEI of the relevant sub-fund.
- Q&AAnsweredExplicit reference · 90%
AI summaryRisk-free rates missing from the RTS 23 and RTS 22 code lists should be reported with their ISO 20022 four-letter code (for example 'ESTR' for €STR) and, where one exists, the rate's ISIN; ESMA also covers other unlisted reference rates, whether voluntary switches to risk-free rates are reportable transactions, and new ISINs for instruments with fallback rates.
- Q&AAnsweredExplicit reference · 90%
AI summaryReference data reported under RTS 23 must use the ISO 10962:2015 version of the CFI code.
- Q&AAnsweredExplicit reference · 90%
AI summaryVenues operating on a defined list of instruments must report reference data under Article 27 MiFIR and RTS 23 for the instruments on that list, which are 'traded' on the venue even before any order or quote is placed.
- Q&AAnsweredExplicit reference · 90%
AI summaryFor electricity derivatives in RTS 23 reference data, the price multiplier should be reported in MWh: the number of delivery hours in the delivery period multiplied by the lot size in MW.
- Q&AAnsweredExplicit reference · 90%
AI summaryRTS 23 field 3 (the CFI code under ISO 10962) and field 23 (bond seniority under ISO 20022, debt instruments only) follow different standards, and no validation rule compares them.
- Q&AAnsweredExplicit reference · 90%
AI summaryMaturity and expiry dates in reference data should be those set by the issuer or prospectus, without moving them to a working day when they fall on a weekend or holiday.
- Q&AAnsweredExplicit reference · 90%
AI summaryPhase 4 EU emission allowances must be reported in FIRDS with the ISINs published by the Commission (EU000A2QMW50 for EUAs and EU000A2QMW68 for aviation allowances), also used as the underlying code for derivatives on them; ESMA gives worked RTS 23 examples.
- Q&AAnsweredExplicit reference · 90%
AI summaryFor depositary receipts, RTS 23 field 5 should carry the LEI of the issuer of the underlying instrument (for example the issuer of share A), not of the depositary receipt itself.
- Q&AAnsweredExplicit reference · 90%
AI summaryFor bonds not paid out at their intended maturity (for example after a default), the maturity date in reference data should be set to 9999-12-31 until they are redeemed, and then updated to the actual redemption date.