FCA completes UK transaction reporting rules reform, expected to save over £100 million annually

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FCA has completed its reform of the UK transaction reporting regime, with the industry expected to save over £100 million annually. The number of reportable fields will fall from 65 to 52, around 7 million instruments that can only be traded on EU venues will be removed from the scope of UK reporting, and FX derivatives will instead be handled under the UK EMIR framework.