MiFID II/MiFIR: Regulatory Reporting Solution (RRS) Release 1.7: Information for Trading Participants outside the scope of MiFIR
020/2025 MiFID II/MiFIR: Regulatory Reporting Solution (RRS) Release 1.7: Information for Trading Participants outside the scope of MiFIR Xetra Circular 020/25
1. Introduction
With this circular, Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) informs about the RRS Release 1.7, affecting all Trading Participants outside the scope of the MiFIR regulation ("Non-MiFIR Trading Participants"). With the introduction of RRS Release 1.7, effective 30 June 2025, changes to the handling of the Backup Enrichment File (BKU) will be implemented.
Simulation start: 12 May 2025
Production start: 30 June 2025
Further information about the RRS Release 1.7 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 1.7 on 30 June 2025, 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 12 May 2025 onwards until further notice.
B. Overview of functional enhancements
With RRS Release 1.7, incomplete mandatory fields (buyer, seller, execution responsible, or investment decision) will be flagged with a "final missing" status in the BKU file. This status will apply to transactions where a Non-MiFIR Trading Participant fails to provide the required information via a valid Upload File (TVUPL) during the daily enrichment and correction process by the T+1, 18:00 CE(S)T deadline.
The known limitations list for RRS Release 1.7 is available on the Xetra website under the following path:
Newsroom > Current regulatory topics > MiFID II and MiFIR > Non-MiFIR firms > Non-MiFIR reporting known limitations.
If you have any further questions, please do not hesitate to contact the Regulatory Reporting & Monitoring Team at mifid.reporting@deutsche-boerse.com.
Further information