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Rules and Regulations

MiFID II Transaction Reporting - ARM

MiFID II will introduce extended reporting obligations on market participants, compared to the existing requirements under MiFID I. Where MiFID I requires reporting to local regulators of transactions in cash equities, MiFID II expands the scope to several non-equity asset classes and significantly increases the amount of data that needs to be reported. 

Under MiFID II, the participant will have the option of reporting these transactions itself, or by using the help of an Approved Reporting Mechanism – ARM. Nasdaq intends to offer such an ARM service as part of its comprehensive Regulatory Reporting platform. A user friendly solution with competitive pricing, the Nasdaq Regulatory Reporting platform already includes MiFID I reporting, EMIR TR reporting and REMIT reporting. By leveraging Nasdaq’s years of reporting experience and expertise with the ever-changing regulatory landscape, market participants can meet their regulatory MiFID II transaction reporting obligations. 

The ARM reporting service will include the following:

  • Data Collection - Gathering data generated via trading and/or clearing, from Nasdaq’s Trading Venues and/or Clearing House, i.e. both exchange-traded and OTC transactions
  • Ancillary Data Collection - Collecting additional data that is required in order to complete the relevant report
    - From customer and/or from external data providers
  • Data Validation and Report Creation – Validating and formatting reports in accordance with the specifications of MiFID II Regulatory Technical Standards (RTS)
  • Report Submission - Submitting reports to relevant authorities for all relevant asset classes
  • Exception Reporting - Exception reports and other feedback from relevant authorities provided back to the participant
  • Feedback Provisions - Feedback to the customer available in an easily accessible format

In order to find out more about our MiFID II transaction reporting service, please reach out to your key account manager or contact the Regulatory Reporting team at regulatoryreporting@nasdaq.com.

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For Regulatory Reporting
regulatoryreporting@nasdaq.com
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