Read more about the requirement to submit instrument reference data.
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UK trading venue operators and systematic internalisers (SIs) are required to provide us with details of the financial instruments traded on their platforms.
This instrument reference data provides granular information on financial instruments in accordance with RTS 23[1].
Complete and accurate instrument reference data is crucial in enabling the transaction reporting regime to function properly, allowing us to detect and investigate potential market abuse. The data is used to validate and enrich the transaction reports we receive under RTS 22[2].
The instrument reference data we receive is published on the FCA Financial Instrument Reference Data System (FCA FIRDS).
Who needs to submit instrument reference data
UK trading venues and SIs are responsible for submitting instrument reference data.
Trading venues submit the details of instruments admitted to trading or traded on their trading venue.
SIs should only report instrument reference data for instruments in which they are an SI and that are reportable under Article 26(2)(b) or (c) of UK MiFIR.
Trading venues and SIs submit instrument reference data to the Market Data Processor (MDP).
FCA FIRDS
We validate and consolidate instrument reference data and publish it on the FCA FIRDS[4] the next day by 9am UTC.
Firms can view and download this data. FCA FIRDS also includes instrument reference data reported to ESMA by EEA trading venues and SIs. This information is sourced from ESMA FIRDS.
This dataset is used to validate and enrich the transaction reports received under RTS 22. FCA FIRDS helps firms, amongst other things, to determine their transaction reporting obligations. This system enables firms to download full and delta reference files.
Read our instructions on how to access and download the reference data files (PDF)[5].
Errors and omissions notifications
If your firm becomes aware of any error or omission in its instrument reference data, you must complete an errors and omissions notification (DOCX)[6].
Make sure the notification is completed in full, with all details necessary to allow us to review the error or omission attach supporting documents, for example, external review results.
All subsequent updates on an already submitted notification should be emailed to [email protected] quoting your submission reference number.