The FCA have issued a new statement in connection with the ruling that physical forwards executed via an MTF (multilateral trading facility) count as a derivative.

The start date on which the rule applies (i.e. to trades executed from that day) and from when broker platforms must put appropriate arrangements in place is now the 12th February 2014, which is the same day as when Trade Reporting starts. 

The 12th is going to be a busy day.