As an Approved Reporting Mechanism (ARM) Abide Financial processes MiFID eligible transactions efficiently to the FCA and other European regulators. Abide has developed a robust and mature control framework around the MiFID transaction reporting process designed to meet all of the obligations dictated by the Transaction Reporting User Pack (TRUP).
Multi-asset regulatory data validation and enrichment expertise
Integrated end-to-end reconciliation, in line with TRUP 3.1
Reliable compliance consultancy backed by extensive industry experience
Named service delivery manager
Annual review of process and performance
What is MiFID?
The Markets in Financial Instruments Directive (MiFID) requires banks, trading firms and asset managers to report securities and derivatives trades to their National Competent Authority (NCA). Transaction reports are used to monitor for market abuse and support the wider regulatory remit of ensuring transparent and fair markets.
Transactions that need to be reported
Market participants must report details of trades in listed equity and debt
products (and derivatives of them) to the Financial Conduct
Authority (FCA) and other regulatory destinations. Banks, trading
firms and asset managers may all be required to report.
Reportable instruments include:
All equities and bonds listed on EEA Regulated Markets
Derivative contracts of all equities and bonds listed
on EEA Regulated Markets
All trades, including ‘over the counter’ (OTC) trades
“We chose Abide Financial for the very high quality of its consultancy in qualifying and quantifying our regulatory reporting workflow. We were impressed with their expertise in managing current and defining future regulatory reporting requirements.”
Head of Clearing and Custody Solutions,
BNP Paribas Securities Services
Abide Financial’s reporting HUB is designed to receive, process, enrich and distribute transaction data, routing it to relevant regulatory bodies under multiple global regimes: MiFID, EMIR, REMIT, ASIC, MAS and others.