As the MiFID II reporting deadlines are fast approaching, many financial organisations are looking to use this “opportunity” to look at how they could take a more strategic approach and consolidate all of their regulatory trade and transaction reporting into one solution.

At Broadridge we can help clients through our ability to store historical data that can be easily accessed when needed, as well as being able to capture key information and trade lifecycle decision points to help comply with best execution and transaction reporting standards. This is also supported by our connectivity to Approved Reporting Mechanisms (ARMs). In January 2018 the European Union’s Markets in Financial Instruments Directive II (MiFID II) will reassess EU policies with an aim of strengthening investor protection by increasing the efficiency and transparency in Europe’s financial markets.

Key questions that you need to be addressing now:

Does this (MiFID II) actually apply to me at all?
If your firm is registered for investment business in the European Economic Area (EEA), you are within MiFID II scope. This applies to EEA branches of overseas firms carrying on investment activities in the EEA. See MiFID II Reporting Brochure

Isn’t MiFID reporting just about equities?
No. MiFID II extends reporting requirements to all asset classes including all variations of derivatives.
Need further info? See MiFID II Reporting Brochure

Isn’t MiFID II reporting just a bit of an extension to EMIR?
No. There are two aspects to MiFID II reporting – transparency reporting and transaction reporting. If you are in scope for transparency reporting you will need to report post-trade details in near real time.

Transaction reporting is T+1 like EMIR, but includes new criteria for when to report (not all EMIR events) and extends the data that needs to be reported. These new data items need to be captured in your source and reporting system. Most investment firms will need to do some form of transaction reporting. See MiFID II Reporting Brochure

Can’t I just build on my existing trade reporting solution?
Maybe. If you have a solution which is rules based, has a central, harmonised trade store and supports real time as well as T+1 reporting, then you could be in good shape. Broadridge’s Message Automation currently supports MiFID reporting and is committed to supporting MiFID II reporting.

If your current system is tactical, with a lot of manual processes and/or hard coded business logic, you need to consider very carefully if it will be able to handle the additional complexity of MiFID II.

We suggest that this review happens as soon as possible. See MiFID II Reporting Brochure

Could a solution from Broadridge help me achieve MiFID II reporting and then migrate my other reporting jurisdictions (Dodd Frank, EMIR etc.) over to the same platform?
Yes. We have extensive experience of migrating customers over from their existing tactical reporting solutions to our platform providing them with an enhanced, strategic solution. We could achieve this in a number of different phases depending on the client’s preferences. See MiFID II Reporting Brochure

Can I talk to Broadridge’s Message Automation about MiFID II and how you could potentially help us?
Yes, we are monitoring developments in the regulatory space and will be happy to share with you our observations on the practical implications of the MiFID II regulations and how Broadridge’s solutions can assist.

Need further info or a complimentary consultation? Click here

The settlement period for in-scope securities on the secondary market in the US & Canada will be shortened to two days come September 5 2017, and firms need to adapt their end-to-end STP process. Assessing T+2 readiness is one of the final phases of preparations for the compression of the trade cycle.

• Front to back accountability


• Clear ownership for product & process delivery


• Integrated planning


• Timely escalation & resolution

Download our white paper to learn how your firm can prepare for the transition to T+2 settlement.

The settlement period for in-scope securities on the secondary market in the US & Canada will be shortened to two days come September 5 2017, and firms need to adapt their end-to-end STP process. Assessing T+2 readiness is one of the final phases of preparations for the compression of the trade cycle.

• Front to back accountability


• Clear ownership for product & process delivery


• Integrated planning


• Timely escalation & resolution

Download our white paper to learn how your firm can prepare for the transition to T+2 settlement.

The settlement period for in-scope securities on the secondary market in the US & Canada will be shortened to two days come September 5 2017, and firms need to adapt their end-to-end STP process. Assessing T+2 readiness is one of the final phases of preparations for the compression of the trade cycle.

• Front to back accountability


• Clear ownership for product & process delivery


• Integrated planning


• Timely escalation & resolution

Download our white paper to learn how your firm can prepare for the transition to T+2 settlement.

The settlement period for in-scope securities on the secondary market in the US & Canada will be shortened to two days come September 5 2017, and firms need to adapt their end-to-end STP process. Assessing T+2 readiness is one of the final phases of preparations for the compression of the trade cycle.

• Front to back accountability


• Clear ownership for product & process delivery


• Integrated planning


• Timely escalation & resolution

Download our white paper to learn how your firm can prepare for the transition to T+2 settlement.