MiFIR/MiFID II

Reporting Millisecond
MiFIR/MiFID II

Do You Need to Report (MiFIR) Trade Time in Milliseconds?

When reporting transactions to regulatory bodies, there are variations in the data format that is required from region to region.  An example of this difference is the accuracy of the timestamp that is deemed acceptable. Under MiFID II/ MiFIR,milliseconds are required in an attempt to increase the transparency and detail of the information passed to the regulator.

MiFIR/MiFID II

How Does a Regulator or ARM Ascertain MiFIR Reportability?

The current application of MiFIR requires both the regulators and ARMs to filter through vast quantities of data to determine which transactions should be reported.  Trading venues and systematic internalisers (SIs) are obliged to submit reference data for financial instruments to ESMA to be published in FIRDs. This is outlined in Article 27 of MiFIR and Article 4 of Market Abuse Regulation (MAR).

Trade Reporting
ASIC

Trade Reporting for Foreign Payment/Money Transfer Providers

Globally there are a host of foreign exchange brokers which allow their customers to move currency to and from different countries and currencies. These companies are subject to different requirements based on the jurisdiction where they are based and the role they play in the market.

RTS28
EMIR

Reminder: RTS 28 Reports Due 30 April 2022

RTS 28 is still in force for EU and UK investment firms and must be published by 30 April 2022.

Investment firms are required to summarise and publish their top five execution venues in terms of trading volume and information on the quality of execution obtained for each class of their financial instruments