On Jul. 10, ICE FEU reminded members to attest MiFID and LEI status.
ICE FEU issued circular Circular is to inform members it requires them re-attest to ICE FEU their MiFID Investment Firm Status under MiFIR Transaction Reporting provisions.
It also requires them to confirm that their Legal Entity Identifier (LEI) is correct.
And, for certain members, attest the location of the RIM to confirm trading branch locations are correctly identified by their Responsible Individual Mnemonics (RIMs).
Purpose
LEI, MiFID Investment Firm Status attestation was introduced by ICE FEU in 2020; also covers entities that are members of ICE FEU affiliated trading venue, ICE Endex BV.
Members should note that any entity required to report transactions under EU-MiFIR or UK-MiFIR or by virtue of their authorisation by UK FCA as a Third Country Firm under SUP 17.A.1.2 should attest themselves as a MiFID Investment Firm to ICE FEU.
MiFIR requires that, where a transaction is executed on ICE FEU by a member that is not itself subject to the MiFIR Transaction Reporting provisions, ICE FEU must report the transaction's details to its regulatory authority; thus, to discharge this obligation, ICE FEU must have accurate information on reporting obligations of all of its members.
Action
To prepare for re-attestation, ICE FEU reset member company attestation in the ICE Identifier Admin (IIA) application on Jul. 1 so members can perform their attestation.
IIA application serves ICE FEU and ICE Endex, so MiFID investment firm member in EU or UK-MiFIR should attest themselves as MiFID investment firm in relevant regime.
Companies tab in the IIA application is where members must perform the attestation.
Regarding RIM Branch Location Attestation, members who are non-UK EU MiFID Investment Firms may have FCA authorisation for their UK branches to transact business with UK customers; if so, ICE FEU must only report transactions executed by their non-UK branches, so it is vital branch locations can be determined accurately.
ICE FEU uses the location of the RIM to make this designation; members who are EU but non-UK MiFID Investment Firms must attest that each RIM location is accurate.
Branch Location logic also allows third country firms with FCA authorisation to identify which of their branches have reporting obligations to UK FCA; members who do not fall into above referenced categories need not make any attestation of their RIMs.
Most Members will already have an individual with the necessary attestation access.
Where this is not the case, members should contact the ICE User Administration team at ICE FEU to agree the individual who will be granted this new attestation access.
Effectiveness
Attestation portal became available to all members on Jul. 1, 2024 and ICE FEU requires members to complete their attestations by Sep. 30, 2024.
Regulators
ICE FEU
Entity Types
B/D; Bank; Depo; Exch; IA; Inv Co; OTC
Reference
Cir 24/102, 7/10/2024; MIFIR/MIFIR Dir 2014/65, Reg 600/2014
