Issue with Monep, MATIF and Euronext EQF MICs for EMIR reporting

Issue with Monep, MATIF and Euronext EQF MICs for EMIR reporting

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It has become apparent there general industry problem with reporting the correct trading venue codes and Product Identifiers for Monep, Matif and Euronext EQF – Equities and Indices.
The correct MICs to be used for these exchanges in an EMIR trade report are ‘XMON’, 'XMAT' and ‘XEUE’. Since they are all designated as ‘Aii Exchanges ’ on ESMA’s website, the ‘Product ID 1’ field on an EMIR report should be populated with an Aii Exchange Product Code rather than an ISIN.

At UnaVista, we have seen a number of Monep, Matif and Euronext EQF derivatives reported with venue values of ‘XPAR’ and ‘XAMS’ and non-standard ISINs. Unfortunately, these reports have passed, and will continue to pass the ESMA specified validations in the trade repository unless firms make the necessary adjustments.

We understand ESMA is not satisfied with the overall quality of EMIR trade reports and matching rates therefore, firms need to add a specific check on the product and venue identifiers when trading Monep or Euronext EQF derivatives.

Concerned about the quality of your EMIR reference data?

UnaVista can supply a reference data file including ISINs, Aii Exchange Product codes and their associated CFI codes, MICs, derivative type, ‘maturity date’, contract size, strike, settlement type, underlying ISIN, exercise type and put/call flag – all elements where we have witnessed data quality issues leading to low matching rates. To find out more details on how this file can improve your data quality, please see our EMIR reference data page here.