ISDA extends DRR for revised MiFID II/MiFIR reporting
The International Swaps and Derivatives Association (ISDA) has announced an extension of its Digital Regulatory Reporting (DRR) solution to accommodate revised transaction reporting requirements under the Markets in Financial Instruments Directive (Directive 2014/65/EU) and the Markets in Financial Instruments Regulation (Regulation (EU) 600/2014) in the EU and the UK. In collaboration with The Depository Trust & Clearing Corporation (DTCC), which is set to integrate the DRR into its Global Trade Repository’s Approved Reporting Mechanism, the solution utilises the Common Domain Model to convert regulatory interpretations into machine-executable code, thereby facilitating a more efficient and accurate reporting process. Firms are expected to begin submitting transaction reports under the current UK framework from the first quarter of 2026, with the revised requirements anticipated to be implemented in 2027, subject to regulatory approvals.