First introduced in 2007 and revised in 2018, the EU and UK's Markets in Financial Instruments Directive (MiFID II) aims to enhance market resilience, transparency, and investor protection. Under MiFID II Post-Trade Transparency Reporting, investment firms must provide complete and accurate trade details to an Approved Publication Arrangement (APA) for publication.
To promote market resilience and transparency, MiFID II outlines a series of Articles and technical standards which must be adhered to; these apply to all EU trading venues (RM, MTF, OTF), SIs and UK equivalents.
Post-Trade Transparency Reporting is outlined in RTS 1 and RTS 2 of MiFIR:
These reports are then anonymised, aggregated and published by the APA with the ultimate goal being to promote transparency between market participants.
The regulation is the responsibility of the European Securities and Markets Authority (ESMA) and is enforced in the UK by the Financial Conduct Authority (FCA). With the advent of Brexit, since 2021, the two regulators are increasingly diverging, releasing a series of consultation papers detailing the region-specific differences in reporting.
Qomply has a variety of solutions to help firms comply with their regulatory MiFID II Post-Trade Transparency Reporting requirements:
Post-Trade Diagnostic Auditor - Ensure Reports Are Accurate Apply 100+ accuracy, scenario-level and best practice checks across your Post-Trade Transparency Reports in a click and comply with MiFID II requirements |
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QomplyEngine - Generate Transaction Reports From Raw Data Builds transaction reports from raw data points and save resources and hassle by offloading transaction report generation |
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ISIN Quest - Find ISINs Instantly Improve your MIFID reporting by easily retrieving reportable ISINs for your transactions through Qomply's ISIN Quest. |
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