Qomply Free MiFID Reportability Service

19 January 2021

To facilitate the availability of data and enable firms to conduct quick MiFID reportability checks, Qomply has released a free service that determines if a financial instrument is MiFID-reportable in the UK, the EU, or both.

Michelle Zak, co-founder of Qomply, comments “Users input an ISIN (instrument identifier), a string of ISINs, or upload a CSV file for a specific trade date. The service will generate a report that details reportability across regions for the instrument. Users then know, unequivocally, if the instrument was reportable, when, and where.“

This is the only service freely available that queries both EU and UK databases and conducts searches across multiple instruments at once. Qomply anticipates its service will remove the ambiguity of reporting obligations by enabling firms to reach back in time to determine if an instrument was reportable for a specific region and trade date.

Qomply’s free service is available at https://qti.qomplypi.com/firdslookup

As of 1 January 2021, the European Securities & Markets authority (ESMA) and the FCA have been running two, separate FIRDS (Financial Instruments Reference Data System) databases.

The ESMA FIRDS database was intended to be the definitive reference for all financial instruments included in the scope of MiFID II. If an instrument or its underlying instrument is found in FIRDS for the trading date, then the instrument is deemed reportable. With Brexit, part of this responsibility of maintaining accurate data is with the FCA.


Article 26 of MiFIR created an obligation of Transaction Reporting that went into effect on January 3rd 2018. The legislature focuses on investment products that are traded on a traded venue (TOTV) or a derivative based on a product that is TOTV (also called UTOTV, underlying traded on a traded venue).

Transaction reporting is a key regulatory requirement, under the MiFID regime, that plays a pivotal role in assisting regulators in detecting market abuse.

About Qomply

Qomply empowers financial firms of all sizes to meet their regulatory transaction reporting requirements (MiFID, EMIR, SFTR, and ASIC) with best-in-class cloud-based technology solutions that are easy to use at affordable price points.

Our award-winning ReportAssure platform, powered by our proprietary assurance engine, delivers one of the most comprehensive arsenals of accuracy checks in the industry, ensuring our customers’ transaction reports are as complete and accurate as possible.

By offering affordable, modular subscriptions, we enable financial firms of all sizes to benefit from high-quality, regulatory reporting technology, choosing from a menu to suit all appetites.

For more information, please contact Qomply, on +44 (0) 20 8242 4789 or info@qomply.co.uk

Follow Qomply on social media on Twitter (https://twitter.com/QomplyRegTools) and LinkedIn (https://www.linkedin.com/company/qomply/)

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