TZTR Transaction Reporting solutions for MiFIR

The Markets in Financial Instruments Regulation (MiFIR) is closely linked to the MiFID II directive, which was launched in 2018. In summary, MiFIR outlines the reporting requirements and timescales that financial institutions must adhere to when executing transactions in financial instruments. However, this simplified overview barely scratches the surface of the highly detailed and complex governance that firms must ensure is in place to meet their regulatory obligations. 

MiFIR applies to a wide range of asset classes, including Equities, Bonds, Foreign Exchange, Indices and Baskets, Interest Rates and Commodities. Operators of trading venues such as the Regulated Market, Multilateral Trading Facilities and Organised Trading Facilities are responsible for reporting transactions executed on their platform by firms that are not subject to the regulation. This means that transaction reporting obligations are incumbent on all investment firms and trading venue operators.

While some organisations will be exempt from the regulations under specific circumstances, those that do are subject to highly detailed reporting requirements. In the simplest terms, investment firms are required to report details pertaining to the execution of a transaction that falls under the scope of the MiFID II regime. There are 65 individual pieces of data that must be reported for each transaction and this information must be submitted by the end of the next business day after the transaction has been completed.

The volume of data that needs to be reported and the speed with which it must be submitted means that automating your MiFIR reporting is an essential compliance requirement. eflow’s TZTR transaction reporting module has been engineered to help you meet this obligation as quickly, efficiently and robustly as possible.