Market data reporting and MDP

Your entity must demonstrate conformance with our technical specification to be on-boarded on to the MDP. This is part of our authorisation and supervisory process for submitting entities.

To help new entrants that wish to connect to the MDP system, we’ve created an Industry Test Environment (ITE).

Types of data that need to be submitted

You must submit the following types of data:

• transaction reports
• instrument reference data
• transparency reports
• double volume cap reports
• commodity derivative position reports

Who this applies to

• approved reporting mechanisms (ARMs)
• consolidated tape providers (CTPs)
• approved publication arrangement (APAs)
• regulated markets (RMs)
• operators of multilateral trading facilities (MTFs)
• operators of organised trading facilities (OTFs)
• systematic Internalisers (SIs)
• UK MiFID investment firms (IFs)
• UK branch of investment firms established in third countries

To submit market data, you need to complete a confidentiality agreement to request a copy of the Market Interface Specification (MIS). The MIS provides the technical details required to format and submit market data to us.

After you’ve completed the MIS, you will need to:

• submit an MDP on-boarding application form to advise us what market data types your entity will be submitting
• pay the appropriate on-boarding fees

Before you start industry testing, we’ll send you an MDP on-boarding pack outlining the onboarding process and test conditions.

• download the MIS confidentiality agreement (DOCX)
• complete the company detail information in section 2 (only one section 2 is required depending where the application company is based)
• complete the company name of the receiving party, name and title for the signatory at the end of the document
• print and sign the completed document

Scan and return it to us at [email protected].

The MIS will be sent to applicants upon receipt and validation of a completed confidentiality agreement.

• Transaction Reporting – Schema files, reporting instructions and validation rules (ZIP)
• Instrument Reference Data – Schema files, reporting instructions and validation rules (ZIP)
• Transparency Reporting – Schema files, reporting instructions and conditional completeness table for non-equity transparency reference data (ZIP)
• Double Volume Cap Reporting – Schema files and reporting instructions (ZIP)
• Commodity Derivative Position Reporting – Schema (XSD) and reporting instructions (PDF)

To submit an application:

• you must have already received the MIS
• if you are a new entity applying for authorisation or recognition you must submit a relevant MiFID II application in order to receive a case reference number for inclusion in the MDP on-boarding application form
• download the MDP on-boarding application form (DOC)
• read our notes for completing the application form (PDF) and refer to part A
• complete all the relevant sections
• print and sign the declaration as per the instructions within the form

Scan and return it to us at [email protected].

Where an application has been approved and an addition is required, you should submit an application form with the relevant application type noted in section 1.1 of the MDP on-boarding application form:

• download the MDP on-boarding application form (DOCX) 
• read our notes for completing the application form (PDF) and refer to part B (PDF)
• complete all the relevant sections
• print and sign the declaration as per the instructions within the form

Scan and return it to us at [email protected].

Where an application has been approved and a removal is required, you should submit an application form with the relevant application type noted in section 1.1 of the MDP disconnection form:

• download the MDP disconnection form (DOCX)
• complete all the relevant sections
• print and sign the declaration as per the instructions within the form

Scan and return it to us at [email protected].

FCA application fees are charged on the basis of 10 pricing categories. The current rates are in FEES 3 Annex 1A and the categories for onboarding fees are summarised in FEES 3 Annex 14R: 

• transaction reports – Category 7
• transparency calculation data – Category 6
• instrument reference data – Category 6
• double volume cap data – Category 6
• commodity position reports – Category 6