Source: Fixed Income

IT – Genium INET – Transaction Reporting for Non-Investment Firms (31/17)

Article 26 (5) in MiFIR mandates that operators of a trading venue shall report details of transactions in financial instruments traded on its platform which are executed through its systems by a firm which is not subject to MiFIR. The format and contents of transaction reports are set out in Regulatory Technical Standard (RTS) 22.

In order for Nasdaq to meet its obligations, required information to complete the transaction reports must be collected and obtained from the affected members. Because of the level of detail and the nature of the information required, which will not always be known at the point of submission of an order or trade report, it is not possible to collect all information on orders or trade reports.

Nasdaq published a guideline document for non-investment firm members, not themselves subject to MiFIR, and as such covered by Nasdaq’s obligation to Transaction Report to its Trading Venues’ Competent Authorities on behalf of members that are not subject to MiFIR. This document is available on the enhancement page of the Genium INET 5.0.0201 upgrade.

Members not subject to MiFIR will be required to onboard to this transaction reporting solution prior to the application of MiFID II/MiFIR on January 3, 2018. Further information regarding the onboarding process will be available later in October.

For further information and feedback concerning this information, please contact:
Trading Operations
+46 8 405 7360