Under the rules detailed in MiFIR RTS 22 article 15, any trading venue / investment firm that reports MiFIR transactions is liable for the accuracy and completeness of its transaction reports for any given trade date. Firms are concerned that a poor client-ARM-regulator reconciliation process may cause them to be in breach of the rules.
Regulatory Reporting’s MiFIR Reconciliations is a multi-source reconciliation engine that significantly reduces the risk of non-compliance. Our solution allows for one or multiple parties, the executing entity(s) and your firm(s) to supply client transaction reports and transactions reports held at the regulator(s) for reconciliation against transactions reported to Regulatory Reporting’s regulated ARM. Regulatory Reporting’s reconciliation tool ultimately allows for a three-way reconciliation (1. client versus ARM, 2. client versus NCA and 3. ARM versus NCA) to be run on reported MiFIR transactions.
You will receive timely reconciliation results and break management functionalities, benefiting from access to Regulatory Reporting ARM and LSEG’s trusted technology infrastructure. MiFIR Reconciliations offers multiple sources for transaction reports input in diverse formats.