The Financial Conduct Authority and the Bank of England have formally appointed members to their joint Transaction and Post-trade Reporting Harmonisation Taskforce. This collaborative initiative is structured to inform the long-term regulatory approach to harmonizing transaction and post-trade reporting requirements across three core regulatory frameworks: the UK Markets in Financial Instruments Regulation (UK MiFIR), the UK European Market Infrastructure Regulation (UK EMIR), and the UK Securities Financing Transactions Regulation (UK SFTR). To execute its mandate, the newly established taskforce operates through three distinct working groups covering policy, strategy, and architecture.
The operational framework divides responsibilities into specialized functional areas, beginning with the main Policy working group. This group is co-chaired by Helen Packard, head of market oversight data and intelligence at the FCA, and Julia Giese, head of financial markets infrastructure analytics at the Bank of England. The Policy working group brings together an extensive roster of senior industry experts representing wholesale market participants, trade associations, and legal advisors. Its membership includes Giulia Pecce of AFME, Adam Jacobs-Dean of AIMA, Andy Leonard of Barclays Bank PLC, Hussain Abdullah of Citigroup, Karen Stretch of Dechert LLP, Emma Kalliomaki of ANNA and DSB, Paul Sedgwick of DTCC, John Graham of the Futures Industry Association, Greg Stevens of ICE Futures Europe, Andrew Bayley of ISDA, Tony Holland of ISLA, Stuart Cosgrave of J.P. Morgan Chase, Tim Hartley of Kaizen Reporting Ltd, Zach Johnson of Kroll, Mark Burnal of Man Group, Ayo Fashina of Morgan Stanley, Rav Saidha of the Retail Derivative Forum, Will Williams of RBC Capital Markets, Rajan Mawkin of TP ICAP Group, James Southwick of Vanguard Asset Management Ltd, and Richard Young of Bloomberg LP.
Operating in parallel to the policy track, the Strategy working group addresses broader operational alignment and strategic oversight. It is co-chaired by Dominic Holland, director of enforcement and market oversight and wholesale sell side at the FCA, and Nicholas Butt, head of market based finance at the Bank of England. The strategy cohort comprises senior executives and compliance leaders from prominent asset management firms, global banking institutions, and market operators. The appointed members of this group are Adam Conn of Baillie Gifford Overseas Ltd, Alison Vickers of BlackRock, Michelle Bedwin of Capula Investment Management, Tanuja Sharma of Citadel and Citadel Securities, Dawd Haque of Deutsche Bank, Mike Hsu as an independent advisor, Luke Taylor of Goldman Sachs International, Suzanne Calcagno of HSBC Bank Plc, Jonathan Armitage of LCH, Susan Heinrich of Macquarie Group Ltd, Gary Chia-Hsing Li of MarketAxess, Sana Houari of Societe Generale, Dan Chambers of Standard Chartered, Uwe Hillnhütter of Tradeweb Europe, and Karen Miles of UBS.
The third foundational pillar of the taskforce is the Architecture working group, which is dedicated to technical data standards and infrastructural integration. This technical body is co-chaired by Richard Cutress, manager of data engineering and technology at the FCA, Khalid Ledgister, manager of the regulatory, business, enterprise and technical architecture team at the FCA, and John Aveson, senior data scientist in the financial market infrastructure data team at the Bank. The architecture working group draws on deep technical expertise from across market infrastructure providers, data service bureaus, and technology innovators. Its members include Andy Hughes of Derivatives Service Bureau, Mihir Trivedi of Deutsche Bank, Alexander McDonald of EVIA, Eric Odotei of Finalto Group, Stephen Mogie of ICE Clear Europe, Zeynep Shields of J.P. Morgan Asset Management, Michelle Zak of Qomply, Christopher Hall of Morgan Stanley, Miguel Munoz Royo of SIX Group, Ashish Karandikar of CIBC Capital Markets, Sumeet Agarwal of Citadel Securities, Pierre Khemdoudi of Gentek AI, Catherine Ahnoff of London Stock Exchange Group, and Leo Labeis of REGnosys.
The establishment of these three working groups underscores the complexity of aligning data standards across UK MiFIR, UK EMIR, and UK SFTR. The specific objectives and operational mandates for each group are formally set out in their respective terms of reference. Across all three working groups, members have been appointed in a personal capacity, ensuring that guidance reflects professional expertise across market operations, compliance, legal frameworks, and technical architecture. Many of the corporate entities represented on the taskforce are directly authorized and regulated by the Bank of England, the Prudential Regulation Authority, and/or the FCA, reinforcing the practical relevance of the taskforce's outputs to the supervised community.
To maintain momentum and ensure rigorous oversight, the working groups receive dedicated analytical and operational support from internal regulatory teams. Specifically, support is provided by the Transaction and Position Reporting Team at the FCA and the Financial Market Infrastructure Data Team at the Bank of England. This institutional backing ensures that policy recommendations, strategic milestones, and architectural designs align with both regulatory reporting objectives and broader financial stability considerations.
Watch for further updates, formal deliverables, and published guidance stemming from the Policy, Strategy, and Architecture working groups as the Transaction and Post-trade Reporting Harmonisation Taskforce advances its long-term program to streamline regulatory reporting obligations across UK MiFIR, UK EMIR, and UK SFTR.
Source: Financial Conduct Authority
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