- within Environment and Insolvency/Bankruptcy/Re-Structuring topic(s)
- with readers working within the Banking & Credit industries
For the UK and most European countries, Daylight Saving Time (DST) ends on Sunday, 26 October 2025. As you turn your clocks and watches back one hour, please also ensure your trade/transaction reporting reflects the correct time settings.
Here are 2 tips to help you ensure your trades/transactions are reported at the correct time:
1. Check the Time fields in your handback files today
You will receive the first post-DST handback files on Tuesday, 28 October 2025.
The UK's FCA has previously raised concerns with inaccurate trading date time submissions (in Market Watch 59) during DST changes and have advised firms to have arrangements in place to maintain consistent, accurate reporting.
The CSSF of Luxembourg performed data quality tests on transaction reports and identified cases where the local time was reported instead of Coordinated Universal Time (UTC).
Firms should synchronise their business clocks to record date and time in UTC as stipulated in both the ESMA and FCA regulations. It is important to do the following checks and act promptly if there is any problem.
You will need to cross check the time of your trades/transactions against the UTC recorded under the following LSEG Post Trade Trade Repository (TR) and Approved Reporting Mechanism (ARM) fields:
- MiFIR – Trading Date Time field
- EMIR – Execution Timestamp field
- SFTR – Execution Timestamp field
How to check?
- Select a sample of trades from your raw data and convert the time to UTC; and
- Compare those against the UTC populated under the fields as
described above in your handback files.
If the time does not match, please contact us.
2. Check time recorded for daily snapshot (if applicable)
For firms that submit a daily snapshot for trade/transaction reporting, double check that it is occurring at the intended end-of-day time.
Completing these checks helps avoid corrective submissions and minimises the risk of future breaches.
If you have any concerns or are not sure how to do this check, please contact us.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
