DORA provides a regulatory framework on digital operational resilience where all firms need to make sure they are able to withstand, respond to and recover from all types of Information and Communication Technology (ICT) related disruptions and threats.
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.
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.
MiFIR introduces many requirements in respect of transaction reporting, including the requirement to report a wider range of data. In this article we explain some of the intricacies and difficulties of procuring and validating data and how these can be overcome.
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
Just over one year since MiFID II came into effect, TRAction still gets asked whether Rolling Spot FX and Spot Precious Metals are reportable under MiFIR.
Every year the European Securities and Markets Authority (ESMA) outlines its priorities for the following year in its annual work programme (AWP). With ESMA’s new powers and responsibilities, growth in staff numbers and changes in senior management, the AWP for 2022 was developed at a time of significant change for ESMA.
We’ve identified the 3 most common errors in the transaction data we receive from our clients: missing customer details, duplicate transactions and incorrectly formatted dates.