LONDON, Nov 7 (Reuters) - The European Union's executive body will reject a call from the bloc's securities regulator to delay mandatory recording of derivatives traded on exchanges by a year, a letter said.
Jonathan Faull, the top official at the European Commission's internal market unit, has written to Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA).
"I would like to inform you of the European Commission's intention to reject the draft implementing technical standard submitted by ESMA," Faull wrote in the letter dated Nov. 7 and seen by Reuters.
ESMA wanted to delay the deadline until January 2015 to give the industry more time to prepare.
This means that transactions executed on as well as off exchanges must be reported from early next year.