I’m an Investment Firm – What Regulatory Reporting Do I Need to Do?

Data Enrichment

Compliance Support

Reduce Costs

The following information has been developed for investment firms (IFs) based in the European Union (EU) and as it stands is applicable to UK IFs unless otherwise stated.

There are a number of reporting regimes including EMIR, MiFID II/MiFIR, SFTR and Best Execution, all of which affect IFs in different ways.

EMIR Reporting

EMIR requires all market participants to report details of all derivative contracts, including interest rate swaps, FX, credit, equity and commodity) to an authorised trade repository (TR).

Who has to report?

Both counterparties must report each trade unless:

You can use our EMIR Assessment Tool to help determine your reporting obligations under this regime.

MiFID II/MiFIR Transaction Reporting

MiFID/MiFIR requires the details of qualifying transactions to be reported to a National Competent Authority (NCA) or Approved Reporting Mechanism (ARM) within one day (T+1) of the transaction. The regime captures financial instruments:

  • admitted to trading or traded on a trading venue (ToTV);
  • whose underlying is a financial instrument is ToTV; or
  • whose underlying instrument is an index of a basket composed of financial instruments ToTV.

Who has to report?

IFs as defined in Article 4(1)(1) of MiFID II and European Economic Area (EEA) branches of third-country IFs.

You can use our MiFIR Assessment Tool to help determine your reporting obligations under this regime.

SFTR Reporting

SFTR aims at increasing transparency in securities financing markets by introducing reporting requirements. Counterparties to SFTs are required to report the details of any SFT they have concluded to an authorised TR. The scope of SFTR includes:

  • a repurchase transaction (REPO);
  • securities or commodities lending and borrowing;
  • a buy-sell back transaction or sell-buy back transaction; and
  • a margin lending transaction.

Who has to report?


Both FCs and NFCs have reporting obligations as defined in Article 4 of SFTR, which cover the following:

  • EU based entities including all its branches irrespective of where they are located; or
  • Non-EU entities where the SFT is concluded by an EU based branch.


Only FCs have reporting obligations, which cover the following:

  • all UK based entities; or
  • third country branches of UK based entities.

NFCs don’t have reporting obligations as referenced on FCA.

Best Execution

Best Execution is embedded in Article 27 of MiFID II which requires investment firms to provide the most favourable terms for the execution of client orders with reference to price, cost, speed, likelihood of execution, settlement size, settlement nature and any other relevant consideration.

Who is required to report?

IFs must regularly monitor their compliance with the best execution requirements when executing orders on behalf of their clients.

IFs (including CFD/FX brokers) who execute client orders through execution venues are required to produce and publish annual RTS 28 reports. The report requires IFs to demonstrate the top five execution venues that they used for client orders in each class of financial instrument.

MiFIR Trade Publication

This requires reporting real-time trade data through an Approved Publication Arrangement (APA) for transactions with instruments listed on an EEA trading venue. These reports don’t require as much information as a transaction report – the focus is on execution data relating to volume and price –only one report is required for the trade rather than by all firms involved in the transaction as with transaction reporting.

Who has to report?

Either the trading venue, or where a venue isn’t involved, the publication requirement falls to the Systematic Internaliser (“SI”).

If no SI is involved in the transaction, then the obligation falls upon an Investment Firm.

TRAction Fintech can help you to understand and streamline your reporting obligations under and can simplify compliance by reporting on your behalf. Please contact us for further information.

Contact Us

Can’t find the answers you’re looking for? 

Reporting with TRAction

TRAction's Integrations

If you’re considering passing the burden of reporting over to a delegated third-party, like TRAction, you’re probably wondering, “Can they connect to our current trading platform?”
Find out about TRAction’s reporting integrations to automate your daily obligations.


Find out how TRAction can assist you and alleviate the burden on your team when it comes to regulatory reporting.
Learn how we can help you.
Learn more


TRAction’s pricing is always competitive and it’s even better when the services are of high quality.
Download our pricing below.