Eliminating duplicative post trade transparency reporting: Addressing the competitiveness impact of EU legislation on EU bank branches operating in the UK

AFME, with the support of EFAMA and ICMA, is calling for the removal of duplicative post-trade transparency reporting requirements that place EU banks operating through UK branches at a competitive disadvantage when trading with international clients. The paper outlines a targeted solution to address this issue while maintaining transparency and data accuracy and integrity. Importantly, the proposal has the support of the sell-side through AFME, the European buy-side through EFAMA as well as the broader market through ICMA in reflecting the market benefits of addressing this duplication.