Find out what the Market Data Processor (MDP) is and how to apply for onboarding to the system.
This page provides details on the process for establishing a direct connection with the MDP.
These data types are received through the MDP:
- transaction reports
- instrument reference data
- transparency reports
- commodity derivative position reports
It also provides the interface to the FCA Financial Instrument Reference Data System (FCA FIRDS) and the FCA Financial Instruments Transparency System (FCA FITRS).
Trading venues submit market data directly (or via a third party) to the MDP. Investment firms can submit transaction reports through Approved Reporting Mechanisms (ARMs) or through establishing a direct connection with the MDP.
For investment firms looking to download extracts of their transaction reporting data, please see our MDP entity portal page.
Onboarding to the MDP
Your entity must demonstrate conformance with our technical specification to be on-boarded to the MDP.
To help new entrants that wish to connect to the MDP, we allow access to an Industry Test Environment (ITE).
This applies to:
- approved reporting mechanisms (ARMs)
- approved publication arrangement (APAs)
- UK Regulated Investment Exchanges (RIEs)
- operators of multilateral trading facilities (MTFs)
- operators of organised trading facilities (OTFs)
- systematic internalisers (SIs)
- UK MiFID investment firms
- UK branches of third country investment firms
Preparing an application for on-boarding
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1
Download the MIS confidentiality agreement (DOCX).
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2
Complete the company detail information in section 2.
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3
Complete the company name of the receiving party, name and title for the signatory at the end of the document.
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4
Print and sign the completed document.
You must then scan and email a copy to [email protected].
The MIS will be sent to applicants upon receipt and validation of a completed confidentiality agreement.
Before testing can begin, we will send an MDP on-boarding pack outlining the on-boarding process and test conditions.
Submitting your onboarding application
You should download and complete the MDP onboarding application form.
You must then scan and email a copy to [email protected].
Download MDP application form (DOCX)
Before submitting an application:
- You must have returned a signed copy of the MIS confidentiality agreement.
- If you are a new entity applying for authorisation or recognition you must submit a MiFID II authorisation application to receive a case reference number for inclusion in the MDP on-boarding application form.
Before an on-boarding pack can be sent, the relevant fees must be paid.
Fees
FCA application fees are charged based on 10 pricing categories. The current rates are in FEES 3 Annex 1A and the categories for on-boarding fees are summarised in FEES 3 Annex 14R:
- Transaction reports - Category 7
- Transparency calculation data - Category 6
- Instrument reference data - Category 6
- Commodity position reports - Category 6
The on-boarding fees are a one-off payment and are not recurring annual fees.
Contact details
Email: [email protected]
