• MIR 2.7 MIR 2.7 Transaction recording

    • MIR 2.7.1

      The Recognised Body must ensure that satisfactory arrangements are made for recording transactions effected on or cleared (or to be cleared) by the Recognised Body by means of its facilities.

    • MIR 2.7.2

      In determining whether a Recognised Body has satisfactory arrangements for recording the transactions effected on, or cleared (or to be cleared) by means of, its facilities, the Regulator may have regard to:

      (a) whether the Recognised Body has arrangements for creating, maintaining and safeguarding an audit trail of transactions for at least 7 years; and
      (b) the type of information recorded and the extent to which the record includes details for each transaction of:
      (i) the name of the Financial Instrument (and, if relevant, the underlying asset) and the price, quantity and date of the transaction;
      (ii) the identities and, where appropriate, the roles of the counterparties to the transaction;
      (iii) if the Recognised Body's rules make provision for transactions to be effected, cleared or to be cleared in more than one type of facility, or under more than one part of its rules, the type of facility in which, or the part of its rules under which, the transaction was effected, cleared or to be cleared; and
      (iv) the date and manner of settlement of the transaction.

    • MIR 2.7.3

      Where transactions are effected on a Recognised Investment Exchange and cleared through a Recognised Clearing House, the Recognised Bodies concerned may agree which information is to be recorded by each Recognised Body and need not duplicate each other's records.