MiFIR Information Required from Account Holders that do not have Reporting Obligations

The MiFIR Transaction Reporting regime requires EEA Investment Firms, like IBUK, to include specific client identifiers in their transaction reports.

Accounts that trade in financial instruments carried by Interactive Brokers (U.K.) Limited (“IBUK”) will need to be identified in IBUK’s reports by using specific identifiers that may or may not be already available to IBUK.

Similarly, EEA Investment Firms that use the IB platform for their clients’ orders and have elected to transaction report through IBUK will have to use the same identifiers for their client orders. If you are the client of such a firm, IBUK may need additional information from you to complete the transaction reports.

This information will have to be provided to IBUK by 30 November 2017.

New Information Required
When additional information is necessary for this purpose, clients will be asked to provide it via the completion of an electronic form available in the Account Management.

The information requested for these accounts is:

  • - All countries of citizenship for natural persons that are account holders and authorised traders;
  • - A specific National Identifier for natural persons that are account holders and authorised traders;
  • The Legal Entity Identifier for legal entities. Clients that do not have an LEI will be able to apply for one through IBUK.
  • For organisation accounts, an indication as to whether the Legal Entity is a non-financial entity using the account for trades in Commodity Derivatives Transactions to reduce risk in an objectively measurable way in accordance with Article 57 of MiFID II.

 Note: For a listing of common MiFIR definitions and terms, see KB2980

THIS INFORMATION IS GUIDANCE FOR INTERACTIVE BROKERS CLEARED CLIENTS ONLY. THIS GUIDANCE DOES NOT APPLY TO EXECUTION ONLY ACCOUNTS.

NOTE: THE INFORMATION ABOVE IS NOT INTENDED TO BE A COMPREHENSIVE OR EXHAUSTIVE GUIDANCE AND IT IS NOT A DEFINITIVE INTERPRETATION OF THE REGULATION, BUT A SUMMARY OF MiFIR TRANSACTION REPORTING OBLIGATIONS.