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REC 2.9 Transaction recording


Schedule to the Recognition Requirements Regulations, Paragraph 4(2)(e)

2Without prejudice to the generality of sub-paragraph [4(1)], the [UK RIE] must ensure that-

satisfactory arrangements are made for recording transactions effected on the [UK RIE], and transactions (whether or not effected on the [UK RIE ]) which are cleared or to be cleared by means of itsfacilities;

REC 2.9.2UK


REC 2.9.3GRP

In determining whether a UK recognised body has satisfactory arrangements for recording the transactions effected on its facilities,3 or cleared or to be cleared by another person3 by means of, its facilities, the FCA3 may have regard to:

  1. (1)

    whether the UK recognised body has arrangements for creating, maintaining and safeguarding an audit trail of transactions for at least three years (five years in respect of transactions carried out by members who are not incorporated in the United Kingdom if the UK recognised body is a regulated market); and

  2. (2)

    the type of information recorded and the extent to which the record includes details for each transaction of:

    1. (a)

      the name of the investment (and, if relevant, the underlying asset) and the price, quantity and date of the transaction;

    2. (b)

      the identities and, where appropriate, the roles of the counterparties to the transaction;

    3. (c)

      if the UK recognised body's rules make provision for transactions or clearing facilitation services3 to be effected, in more than one type of facility, or under more than one part of its rules, the type of facility in which, or the part of its rules under which, the transaction or clearing facilitation service3 was effected; and

    4. (d)

      the date and manner of settlement of the transaction.

REC 2.9.4G