Transaction Reporting and Record Keeping

mifid transaction reporting

Transaction Reporting and Record Keeping

The bringing together of a record of every order, execution and transaction event.

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What is the challenge?

To comply with MiFiD II reporting rules, many buy-side firms will need access to extensive reference data on the instruments with which they trade, both to determine what needs to be reported and to generate the data points.

Investment firms must report transactions in any MiFID II financial instruments to their local regulator or approved reporting mechanism (ARM) no later than the close of the following working day.

Under MiFID II, each individual transaction report can contain up to 65 fields, including:

  • new flags, detailing particular trade types in certain instruments
  • specific details of participants, including the Legal Entity Identifier (LEI code) of counterparties, funds and individual accounts
  • and, raising privacy concerns, significant additional personal details (National ID/ passport numbers) of the individual persons involved in both the investment and execution decision. 

 

What is Thomson Reuters doing to help?

We provide access to financial reference data, LEI profiling, applications and solutions for – and indicators to identify which instruments require – MiFID II transaction reporting.

While DataScope Select continues to be the primary service for instrument reference and pricing data, much of this information will also be included within Elektron Real Time data feeds and available
 in Thomson Reuters Eikon.

We also provide Thomson Reuters LEI Profiling Service, a client specific report that assists Financial Institutions to identify and resolve gaps within their LEI universes.

We also provide a transactional store using Thomson Reuters Velocity Analytics 8.0, and, from this stage, also the data required for transaction analysis.

In addition, using standard or custom analytics combined with Elektron Real Time or Tick History data, you can provide benchmark analytics for proving other typical business analytics, such as RFQ hit rates.

Transaction Reporting and Record Keeping

Identifying which instruments require MiFID II transaction reporting.

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