Trade and transaction reporting challenges facing buy-side firms

Angela Hayter-Holt

Journal of Securities Operations & Custody, 2016, vol. 8, issue 3, 187-190

Abstract: The Markets in Financial Instruments Directive (MiFID) came into effect on 1st November, 2007 and was designed to regulate investment services in the European Economic Area. The main objective of this was to create more transparency in the European financial system with the aim of improving investor protection. MiFID has two reporting regimes: trade and transaction reporting. Both regimes will undergo an overhaul in the new Regulation (MiFIR) together with the new Directive (MiFID II). Reporting in the new world will create challenges for most buy-side firms, especially ones that rely on their brokers to report on their behalf. An increase in instrument scope as well as trade-related detail means an increase in the amount of data needed to be reported to the regulator. Buy-side investment firms face building or subscribing to complex data repositories with large rules engines to cope with the increase in reporting requirements.

Keywords: MiFID; MiFID II; MiFIR; trade reporting; transaction reporting (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2016:v:8:i:3:p:187-190

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