Information about SEB’s registration as a Designated Publishing Entity (“DPE”)

On 27th March 2024, the European Securities and Markets Authority (“ESMA”) published a Public Statement that clarified changes introduced by the Regulation (EU) 2024/791 (the “EU MiFIR review”).

The EU MiFIR review instituted provisions allowing National Competent Authorities (“NCAs”) to grant a new status of Designated Publishing Entity (“DPE”) that will replace the existing Systematic Internaliser (“SI”) status currently used to determine post-trade transparency reporting obligations.  ESMA announced that the changes will be effective as of 3rd February 2025.

In this connection, we are pleased to inform you that SEB has registered as a DPE across all applicable asset classes.  This status will be published on the ESMA Register.

What is the impact of these changes?

Under existing EU rules, any post-trade transparency reporting obligation for OTC transactions in financial instruments is driven by an investment firm’s SI status, a status held by SEB in almost all asset classes. However, from 3rd February 2025, the post-trade transparency reporting obligation will instead be determined by whether a firm has registered as a DPE (as SEB has now done).

Since SEB is registered as a DPE, there is effectively no change in our existing relationship for post-trade transparency reporting, and the new regulatory change will not impact you.

The below outlines the change in how post-trade reporting obligations are determined:

Current ‘Systematic Internaliser’ logic for a reportable trade

• SEB (SI for asset class) faces another SI entity -> Seller reports
• SEB faces a non-SI entity -> SEB reports

New ‘Designated Publishing Entity’ logic (from 3rd February 2025)

• SEB (DPE for a particular asset class) faces another DPE entity (for the same asset class) -> Seller reports
• SEB (DPE for asset a particular class) faces a non-DPE entity (in the same asset class) -> SEB reports

Do you need to take any action?

This communication is for information purposes only, and there is no action expected from you.

All SEB post-trade transparency reporting is automated and will be based on DPE statuses from 3rd February 2025. 

Should you have any questions, please do not hesitate to get in touch with your usual SEB contact.