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MiFID II / MiFIR Reporting

MiFIR Transaction reporting is our service of reporting to the National Competent Authority (NCA), either directly or through an Approved Reporting Mechanism (ARM)

Relevant Regulation: Markets in Financial Instruments Regulation EU No 600/2014 (MiFIR) 

Start date: 3 January 2018

Regulatory Type: Regulatory reporting

Types of firms affected: EU firms executing transactions in specific financial instruments such as banks, investment firms, brokers-dealers and other types of companies

Supervisory authority: NCAs

Frequency of reporting: T+1

MiFID II/MiFIR Reporting Service

MiFIR Transaction Reporting is our service that allows clients to report their transactions in Financial Instruments as per the requirements of the Markets in Financial Instruments Regulation (MiFIR, Article 26) to the National Competent Authority (NCA), either directly or through an Approved Reporting Mechanism (ARM). Transaction data received on our Polaris Platform is processed, enhanced, validated and subsequently submitted in the format prescribed by each NCA.

Features

  • Fully automated service
  • Transaction reporting from any system and/or database
  • Design, build and customize solutions to enable reporting
  • Consolidated data feeds
  • Recognition of information to be reported and efficient information distribution to ARMs and/or NCAs
  • On-going communication with regulators to ensure system reports reflect regulatory updates
  • Trade reporting health checks
  • Powerful reconciliation engine that allows you to fulfil your obligation to reconcile your trades with ARMs and/or NCAs
  • Automatic instrument reportability check through FIRDS database.

Benefits

  • Technology optimization
  • Electronic trading flow and seamless MiFID II/MiFIR reporting
  • Comprehensive regulatory reporting IT infrastructure resulting in long term cost efficiencies
  • Cost-efficient integrated reporting solution provided under a single platform

Solution includes

  • A team of specialists will set up the service and provide training on extracting specific, relevant data as needed
  • MiFIR training throughout the implementation process to ensure that key personnel understand the regulation and process
  • Support and availability to answer any queries regarding the system and regulatory updates
  • Access to our Polaris Portal dashboard to control, manage and monitor the reporting
  • Integration with an ARM
  • Transaction data received on our Polaris Platform is processed, enhanced, validated and subsequently submitted in the format prescribed by each NCA
  • Daily tracking of MiFIR reporting
  • Reporting to the NCA, either directly or through an ARM

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