MiFID II/MiFIR: Regulatory Reporting Solution (RRS) Release 1.4: Information for Trading Participants outside the scope of MiFIR

Release date: 21 Oct 2024

046/2024 MiFID II/MiFIR: Regulatory Reporting Solution (RRS) Release 1.4: Information for Trading Participants outside the scope of MiFIR Xetra Circular 046/24

1.  Introduction

With this circular, Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) informs about the RRS Release 1.4, affecting all Trading Participants outside the scope of MiFIR regulation ("Non-MiFIR Trading Participants"). With the introduction of RRS Release 1.4, effective 18 November 2024, RRS will be compatible with the changes resulting from the initiatives introduced with the T7 Release 13.0.

Simulation start: 28 October 2024
Production start: 18 November 2024

Further information about the RRS Release 1.4 can be found on the Xetra website www.xetra.com under the following link: Newsroom > Current regulatory topics > MiFID II and MiFIR > Non-MiFIR firms.

2.  Required action

Non-MiFIR Trading Participants are requested to initiate the preparatory steps to ensure readiness for the RRS Release 1.4 on 18 November 2024, if necessary. Recommended testing scenarios will be provided in the “Simulation Participation guide” which will be available before Simulation start on the website mentioned above.

3.  Details of the initiative 

A. Availability of the simulation environment

A dedicated release simulation environment will be provided to give non-MiFiR Trading Participants the opportunity to perform comprehensive testing of their trading applications, independent of the RRS production environment. The simulation environment will be available for testing from 28 October 2024 onwards until further notice.

B. Overview of functional enhancements

The introduction of RRS Release 1.4 ensures compatibility with the T7 Release 13.0 software version and the new Short Code and Algo ID solution.

With T7 Release 13.0, an enhanced registration and maintenance process for Short Code and Algo IDs will be introduced (see Xetra Circular 022/24). The introduction of RRS Release 1.4 will ensure that validly registered Short Codes and Algo IDs are submitted to RRS as part of the transaction report creation process for non-MiFIR Trading Participants.

With T7 Release 13.0, Xetra (MIC: XETR) will offer Xetra Midpoint trading, a new execution service at the midpoint price between the real-time Best Bid and Offer (BBO) price taken from Xetra’s central limit orderbook (CLOB). The introduction of RRS Release 1.4 will ensure that resulting transactions are reflected accordingly in the transaction report for non-MiFIR Trading Participants.

The known limitations list for RRS Release 1.4 is available on the Xetra website under the following path: 

If you have any further questions, please do not hesitate to contact TVR@deutsche-boerse.com.


Further information

Recipients: 

All Xetra® and Börse Frankfurt Trading Participants and Vendors

Target groups: 

Traders, Technical Contacts, Security Administration, System Administration, Nominated Persons, General 

Contact: 

 

Trade Venue Regulation TVR@deutsche-boerse.com, 
Your Key Account Manager or client.services@deutsche-boerse.com

Related circulars:

 

Xetra Circular 004/24019/24, 023/24, 032/24

Web: 

 Newsroom > Current regulatory topics > MiFID II and MiFIR > Non-MiFIR firms

Authorised by: 

 

Melanie Dannheimer; on behalf of the Management Board: Anca Barghisan


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