MiFID II Post-Trade Reporting

It’s not just transaction reporting under MiFID II that firms need to be compliant with – compliance with real-time trade reporting, both in the UK and EU post-Brexit, is expected by regulators too.

What is Post-Trade Reporting?

Articles 14–23 of MiFIR outline the transparency requirements and obligations for investment firms across asset classes as defined in Regulatory Technical Standards (RTS) 1 and 2.  These include:

  • Near to real-time reporting to the market via FIX (Financial Information eXchange)
  • One minute for equity and equity-like products
  • Five minutes for non-equity products
  • Reports are sent to an Approved Publication Arrangement (APA) for publication to the market
  • Field requirements are limited to the trade financials
  • Anonymised and aggregated reporting to avoid reverse engineering.

We can get your Post-Trade Reporting accurate and complete

Kaizen’s multi-award winning Accuracy Testing has been adapted to fit the requirements of RTS 1 and 2, providing you with a service that:

  • Checks all reported data fields for accuracy, validity and timeliness
  • Tests published, non-published and rejected trade reports, so we can let you know whether you are over or under-reporting. 
  • Provides full results including detailed management information following each test run.

We also provide a Post-Trade Reporting Core Training Course delivered by our regulatory specialist Chris Machin for front office, compliance and operations staff involved in the real-time reporting process. 

“It’s only a matter of time before there is greater scrutiny from regulators on Post-Trade Reporting and potentially, the introduction of penalties or sanctions for incorrect reporting.”

Chris Machin - Senior Regulatory Reporting Specialist – Kaizen Reporting

What Post-Trade Reporting challenges are you facing?

For a conversation with one of our regulatory specialists, please get in touch.

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