SSMA’s response to ESMA Call for Evidence on simplification for transaction reporting
The consultation contains proposals for simplification and cost reduction for all transaction reporting. In principle, there are two essential proposals where one is simpler and faster to execute while the other is far more complicated but would entail larger efficiency in the long term. The SSMA strongly recommends the shorter and simpler solution as it will faster bring cost reductions and greater efficiency for our members. We also doubt that the longer, more complicated solution is feasible within a reasonable amount of time and reasonable costs.