Find out what the Market Data Processor (MDP) is and how to apply for onboarding to the system.
This page provides details on the process for establishing a direct connection with the MDP.
These data types are received through the MDP:
- transaction reports
- instrument reference data
- transparency reports
- commodity derivative position reports
It also provides the interface to the FCA Financial Instrument Reference Data System (FCA FIRDS)[1] and the FCA Financial Instruments Transparency System (FCA FITRS)[2].
Trading venues submit market data directly (or via a third party) to the MDP. Investment firms can submit transaction reports through Approved Reporting Mechanisms (ARMs) or through establishing a direct connection with the MDP.
For investment firms looking to download extracts of their transaction reporting data, please see our MDP entity portal page[3].
Onboarding to the MDP
Your entity must demonstrate conformance with our technical specification to be on-boarded to the MDP.
To help new entrants that wish to connect to the MDP, we allow access to an Industry Test Environment (ITE).
This applies to:
- approved reporting mechanisms (ARMs)
- approved publication arrangement (APAs)
- UK Regulated Investment Exchanges (RIEs)
- operators of multilateral trading facilities (MTFs)
- operators of organised trading facilities (OTFs)
- systematic internalisers (SIs)
- UK MiFID investment firms
- UK branches of third country investment firms
Preparing an application for on-boarding
-
1
Download the MIS confidentiality agreement (DOCX)[4].
-
2
Complete the company detail information in section 2.
-
3
Complete the company name of the receiving party, name and title for the signatory at the end of the document.
-
4
Print and sign the completed document.
You must then scan and email a copy to [email protected].
The MIS will be sent to applicants upon receipt and validation of a completed confidentiality agreement.
Before testing can begin, we will send an MDP on-boarding pack outlining the on-boarding process and test conditions.
Submitting your onboarding application
You should download and complete the MDP onboarding application form.
You must then scan and email a copy to [email protected].
Download MDP application form (DOCX)[5]
Before submitting an application:
- You must have returned a signed copy of the MIS confidentiality agreement.
- If you are a new entity applying for authorisation or recognition you must submit a MiFID II authorisation application to receive a case reference number for inclusion in the MDP on-boarding application form.
Before an on-boarding pack can be sent, the relevant fees must be paid.
Fees
FCA application fees are charged based on 10 pricing categories. The current rates are in FEES 3 Annex 1A[6] and the categories for on-boarding fees are summarised in FEES 3 Annex 14R[7]:
- Transaction reports - Category 7
- Transparency calculation data - Category 6
- Instrument reference data - Category 6
- Commodity position reports - Category 6
The on-boarding fees are a one-off payment and are not recurring annual fees.
Contact details
Email: [email protected]
