MiFID Transaction Reporting | Troubleshooting
14 November 2022
The regulators are fully aware of the frequency in which you are conducting reconciliations.
A key component of performing a reconciliation is the regulator’s data – for the FCA, this is called the MDP file. To obtain the MDP file, executing entities must request the transaction reporting data extract from the MDP portal.
In Market Watch 70 the FCA fired another shot across the bow when it released figures on the number of executing firms requesting/downloading the MDP data.
This is the second time they have issued reminder as in Market Watch 65, they reminded firms that “MiFID II regulations (RTS 22, Article 15, Clause 3) requires firms to have arrangements in place to ensure transaction reports are complete and accurate. This includes testing and regular reconciliation against samples of trade data.”
Therefore, if your firm has not conducted a reconciliation or does not have the tools to perform a check on over-reporting or under-reporting, then get in touch with Qomply.
Our reconciliation solution is straight-froward, easy to use, and is plug-and-play. No cumbersome spreadsheets, a highly-secure platform, and instant results at price point compatible with your firm’s size.
Founded in 2019, Qomply is a RegTech company and our mission is to empower financial firms of all sizes to meet their regulatory transaction reporting requirements (MiFID, EMIR, SFTR, and ASIC) with best-in-class technology solutions that are easy to use at affordable price points. Our award-winning ReportAssure Platform, powered by our proprietary assurance engine, performs one of the most comprehensive arsenals of accuracy checks in the industry, giving customers peace of mind that their transaction reports are as complete and accurate as possible. And by offering affordable, modular subscriptions, we enable financial firms of all sizes to benefit from high-quality, regulatory reporting technology.
Peace of Mind. Delivered.
For more information, please contact Qomply , on +44 (0) 20 8242 4789 or email@example.com
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