Regulatory Reporting

Transaction Reporting

In terms of the crucial aspect of regulatory reporting, our partner, Nex Abide Financial, provides a comprehensive, end-to-end transaction reporting model, which can be used to satisfy all the requirements of:

  • EMIR (European Market Infrastructure Regulation)
  • MiFID/ MiFID II/ MiFIR (Markets in Financial Instruments Directive/ Markets in Financial Instruments Regulation)
  • SFTR (Securities Financing Transactions Regulation)
  • REMIT (Regulation for Wholesale Energy Markets Integrity and Transparency)

As of January 2018, the new MiFID II regulations stipulate that firms must keep 7 years of records pertaining to services, activities and transactions, whether concluded or merely intended. All records kept must be easily retrievable and fully monitored, for access and reporting to relevant regulators within the industry standard 72-hour time frame. In addition, all data relating both to trade and communications must be stored in WORM (Write Once, Read Many) form, which is considered fully tamper-proof.


RTS 28

The Regulatory Technology Standards (RTS) 28, developed by ESMA, enables the public and investors to evaluate the quality of a firm’s execution. The RTS-28 disclosures must be published on or before April 30th, 2018 and should detail the top 5 execution venues by execution quality for the proceeding full calendar year (i.e. Jan-Dec). At a high-level, RTS-28 includes:


  1. Customer Type – Retail & Professional.
  2. Liquidity – Passive, Aggressive &  Directed.
  3. Asset Class – Equities, Debt instruments, Interest rates derivatives, Credit derivatives, Currency derivatives, Structured Finance Instruments, Equity derivatives, Securitized derivatives, Commodity derivatives, Contracts for difference, Exchange traded products, Emissions allowances & Other instruments.
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