21. Appendix I – Glossary of Transaction Reporting Terms

ARM – Approved Reporting Mechanism[1]A list of ARMs which a firm may use to make its reports is available from the FCA website

MIC – Market Identification Code[3]MICs can be looked up on this ISO website

Regulated Market (RM) – a multilateral system operated and/or managed by a market operator, which brings together or facilitates the bringing together of multiple third-party buying and selling interests in financial instruments – in the system and in accordance with its non-discretionary rules – in a way that results in a contract, in respect of the financial instruments admitted to trading under its rules and/or systems, and which is authorised and functions regularly and in accordance with the provisions of Title III of MiFID[2]ESMA MiFID Database

Prescribed Market (PM) – a market that has been prescribed by the Treasury as a market that comes within the scope of the market abuse regime contained in Part VIII of FSMA. In addition to the regulated markets located in the UK, the current list of prescribed markets includes the Alternative Investment Market (AIM) and ISDX market (formerly PLUS Markets)

Off-market – a transaction which is agreed bi-laterally between the parties and is agreed by the parties to not be governed by the rules and regulations of a market

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1. A list of ARMs which a firm may use to make its reports is available from the FCA website
2. ESMA MiFID Database
3. MICs can be looked up on this ISO website