Daylight Saving Time Starts in Europe and the UK
Most European countries alongside the UK will need to turn their clocks forward by 1 hour this Sunday, 31 March 2024. While you enjoy the sun and longer days, you will also need to check that the time settings in your trade/transaction reporting are correct.
Reminder: Daylight Saving Time for New York Starts This Weekend
Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time now that daylight saving time (DST) has started in the US (13 March 2022).
FCA Market Watch 81 – UK MiFID transaction reporting
The FCA has identified that there are still transaction reports that are being submitted incomplete and inaccurate. Although there has been an improvement in data quality since 2018 which has continued in a positive direction as more firms are acting to improve their transaction report data quality, there is more work to be done by firms. The […]
MiFID III and MiFIR 2 (Amendments to MiFID II and MiFIR)
What is it? The latest update to the Markets in Financial Instruments Directive (MiFID II), being the regulatory framework for financial markets in the European Union (EU). As it is a fairly major update the industry sometimes calls it “MiFID III” or “MiFID 3”. Why? The European Parliament sums up the intent behind the amendments […]
TRAction & Duco: Enhanced Data Solutions, Trade Reporting
TRAction has partnered with Duco, the AI platform for enterprise data automation, to provide its clients with reconciliation services. As part of TRAction’s updated service offerings which commenced in 2024, clients on EMIR and MiFIR Premium and Assured plans will receive reconciliations as part of their service. This will involve a three-way reconciliation which compares […]
How Do Public Holidays and Bank Holidays Impact Trade Reporting?
Public holidays and bank holidays can have a major impact on trade and transaction reporting requirements; especially if you are an entity operating under multiple regimes.
When there is a public holiday where the regulatory body (or regulated entity) is located, it is likely that the timing of report submissions will be extended commensurately.
Payment for Order Flow (PFOF)
PFOF is a form of compensation that a brokerage firm receives for directing orders for trade execution to a particular market maker or exchange. Wholesale market makers have leveraged the almost exclusive use of electronic trading by retail investors to pay brokerages for the right to execute orders coming from their clients.
ESMA Q&A Update – MiFID II and MiFIR Market Structures Topics
There has been an addition to the Q&As where trading venues are allowed to set instrument-level trading hours for specific financial instruments as long as the trading hours are announced to the public and market participants.
ESMA Q&A Update – MiFID II and MiFIR Commodity Derivatives Topics
The latest Q&A update is tied to the release of Commission Delegated Regulation (EU) 2022/1302 (RTS 21a) in April 2022 regarding position limits on commodity derivatives and changes to the ancillary activity exemption.
FCA Market Watch 70 – Recent Observations on Transaction Reporting
Although these observations are released by the FCA in respect of firms they regulate in the UK, they have significance for all firms subject to the equivalent MIFID II and MiFIR regimes in the EU.
