ESMA requests input on simplifying transaction reporting

The reason for this is the considerable reporting burden and inefficiencies arising from overlapping obligations within existing frameworks MiFIR, EMIR, and SFTR. ESMA wants to address these bottlenecks and work towards a reporting framework that reduces costs, improves data quality, and supports effective supervision.

Proposals for simplification

ESMA presents two main options for reducing the reporting burden:

1. Removal of duplicate obligations

This approach retains the existing legal structure but removes overlapping reporting requirements. Sub-options focus on defining obligations by instrument type or event.

2. Uniform reporting format (“once-only reporting”)

This option introduces a standardized template that replaces multiple reporting obligations. This should simplify and harmonize the reporting process.

Opportunity to respond

ESMA invites market participants, industry associations, and competent authorities to respond to the proposed options and to make additional suggestions that could improve the reporting framework.

Deadline for submitting comments, September 19, 2025