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The document serves as an input for the design stages of the Order Book Data Exchange (OBOOK) system, later referenced by the Functional Specifications Document (FSD). It describes reporting principles, data exchange and validation, error management, and the applicable in-scope boundaries, including integration through ESMA’s EAMFT system and the scope of EAMFT default validations.","14/11/2022 ESMA65-8-10392  \nBusiness Requirements Document  \nOBOOK  \nDocument control:  \n\n| Version Date Author Description |  |  |  |\n| --- | --- | --- | --- |\n| 0.1 | 19/8/2022 | ED | Initial draft |\n| 0.2 | 15/09/2022 | ED | Second draft |\n| 0.3 | 27/09/2022 | ED | Third draft after ESMA’s comment |\n| 1.0 | 14/11/2022 | ED | Detailed description of reported fields removed from BRD. It will be referencedon FSD. |\n\nDistribution List: ESMA 65-8-10392  \n\n| Name | Department | Role |\n| --- | --- | --- |\n| Data Standing Committee – DSC |  | Approve |\n| Markets and Issuers Task force |  | Review |\n| ESMA IT team | Resources | Review |\n| ESMA MDP team | MDR | Review |\n\nReference documents:  \n\n| Ref | Title | Version | Author | Date |  |\n| --- | --- | --- | --- | --- | --- |\n| 1 | MiFIR-REGULATION (EU) No 600/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 15 May 2014 (Article 25) | 600/2014 | European Parliament Council of Europe | 15 May 2014 |  |\n| 2 | RTS 24-COMMISSION DELEGATED REGULATION (EU) 2017/580 of 24 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the maintenance of relevant data relating to orders in financial instruments | 2017/580 | European\u003Cbr>Parliament\u003Cbr>Council of Europe | 24 June 2016 |  |\n| 3 | Guidelines-Transaction reporting, order record keeping and clock synchronisation under MiFID II | ESMA/2016/1452 | ESMA | 07/08/2017 |  |\n| 4 | ESMA65-8-9196 EAMFT-BRD | 1.4 | ED/ESMA | 23/06/2022 |  |\n\nTable of Contents  \n1 Introduction .....................................................................................................................5  \n1.1 Purpose and audience of this document...................................................................5  \n1.2 Scope .......................................................................................................................5  \n1.2.1 In scope ............................................................................................................5  \n1.2.2 Out of scope......................................................................................................5  \n1.3 Definitions ................................................................................................................6  \n2 Functional requirements ..................................................................................................7  \n2.1 Overview of the project (Business Purpose) .............................................................7  \n2.2 Overview of the system ............................................................................................8  \n2.3 Reporting principles..................................................................................................9  \n2.4 Data Exchange and Data validation..........................................................................9  \n2.4.1 Data Exchange..................................................................................................9  \n2.4.2 Data validation and error management............................................................10  \n3 Non-functional requirements .........................................................................................10  \n4 Annex I – OBOOK Reporting fields ................................................................................11  \n1 Introduction  \n1.1 Purpose and audience of this document  \n1. The Business Requirements Document (BRD) specifies the business requirements of the IT solution required for National Competent Authorities (NCAs) to exchange data related to orders in financial instruments with other NCAs in accordance with paragraph 34 of Regulation (EU) No 600/2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 .  \n2. The purpose of the Business Requirements Document (BRD) is to be used as an input for the design stages of the Order Book Data Exchange (OBOOK) IT solution. The IT so","cbCaihiRVHhb5zdB","https://ap.wps.com/l/cbCaihiRVHhb5zdB","pdf",1563939,24,"English","en",105,"# 1 Introduction\n## 1.1 Purpose and audience of this document\n## 1.2 Scope\n## 1.3 Definitions\n# 2 Functional requirements\n## 2.1 Overview of the project (Business Purpose)\n## 2.2 Overview of the system\n## 2.3 Reporting principles\n## 2.4 Data Exchange and Data validation\n# 3 Non-functional requirements\n# 4 Annex I – OBOOK Reporting fields","[{\"question\":\"What is the purpose of the OBOOK Business Requirements Document (BRD)?\",\"answer\":\"It specifies the business requirements for the OBOOK IT solution so NCAs can exchange order-related data in line with the referenced EU regulations, and it feeds into the design work for the FSD.\"},{\"question\":\"What does the BRD cover in scope for the OBOOK solution?\",\"answer\":\"It covers the functional and non-functional requirements for ESMA’s OBOOK IT solution, including the harmonized reporting format and the data set used for designing the required schemas.\"},{\"question\":\"What is explicitly out of scope for this BRD?\",\"answer\":\"Requirements beyond ESMA’s OBOOK solution are excluded; the focus is exclusively on file exchange between NCAs through ESMA’s EAMFT system, without XSD validation, file content validation, or file processing beyond EAMFT default file-level validations.\"}]","OBOOK - Business Requirements Document | PDF",1789174747,8,{"code":4,"msg":76,"data":77},"ok",{"site_id":69,"language":68,"slug":78,"title":59,"keywords":79,"description":60,"schema_data":80,"social_meta":136,"head_meta":138,"extra_data":140,"updated_unix":141},"obook-business-requirements-document","",{"@graph":81,"@context":135},[82,98,118],{"@type":83,"itemListElement":84},"BreadcrumbList",[85,89,92,95],{"item":86,"name":87,"@type":88,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":90,"name":10,"@type":88,"position":91},"https://docshare.wps.com/template/",2,{"item":93,"name":11,"@type":88,"position":94},"https://docshare.wps.com/template/presentations/",3,{"item":96,"name":59,"@type":88,"position":97},"https://docshare.wps.com/template/obook-business-requirements-document/241390/",4,{"url":96,"name":59,"@type":99,"image":100,"author":105,"headline":59,"publisher":107,"fileFormat":110,"inLanguage":68,"description":60,"dateModified":111,"datePublished":112,"encodingFormat":110,"isAccessibleForFree":113,"interactionStatistic":114},"DigitalDocument",{"url":101,"@type":102,"width":103,"height":104},"https://docshare.wps.com/thumbnails/obook-business-requirements-document/241390.png","ImageObject",442,249,{"name":57,"@type":106},"Person",{"url":86,"name":108,"@type":109},"DocShare","Organization","application/pdf","2026-10-14","2026-09-12",true,{"@type":115,"interactionType":116,"userInteractionCount":8},"InteractionCounter",{"@type":117},"ViewAction",{"@type":119,"mainEntity":120},"FAQPage",[121,127,131],{"name":122,"@type":123,"acceptedAnswer":124},"What is the purpose of the OBOOK Business Requirements Document (BRD)?","Question",{"text":125,"@type":126},"It specifies the business requirements for the OBOOK IT solution so NCAs can exchange order-related data in line with the referenced EU regulations, and it feeds into the design work for the FSD.","Answer",{"name":128,"@type":123,"acceptedAnswer":129},"What does the BRD cover in scope for the OBOOK solution?",{"text":130,"@type":126},"It covers the functional and non-functional requirements for ESMA’s OBOOK IT solution, including the harmonized reporting format and the data set used for designing the required schemas.",{"name":132,"@type":123,"acceptedAnswer":133},"What is explicitly out of scope for this BRD?",{"text":134,"@type":126},"Requirements beyond ESMA’s OBOOK solution are excluded; the focus is exclusively on file exchange between NCAs through ESMA’s EAMFT system, without XSD validation, file content validation, or file processing beyond EAMFT default file-level validations.","https://schema.org",{"og:url":96,"og:type":137,"og:title":59,"og:site_name":108,"og:description":60},"article",{"robots":139,"canonical":96},"index,follow",{"doc_id":55,"site_id":69},1791727507]