To adhere to MiFID II/MiFIR there are a number of reporting facilities, these include:
Approved Publication Arrangement (APA): Provides pre-trade transparency publications and post-trade publishing of trade information and make such information freely available 15 minutes after receipt. These take the form of trade reports which are expected to include the financial product identifier (an ISIN), the price and its notation, the volume traded, date/time of the transaction and the date/time it was reported, and the trading venue, along with any specific conditions indicator, if applicable. There are a number of organisations have indicated they intend to offer this service, these include the Deutsche Bourse, the LSEG/Boat, TP ICAP, Thomson Reuters, TradeWeb and TRAX.
Approved Reporting Mechanism (ARM): Supports the requirement to capture the transaction reports and publish them to the National Competent Authorities (NCA), who in turn must disseminate to the Central Competent Authority (CCA). The information required varies depending upon the Asset class and contract style. For further information, we advise the reader to examine the section on this site titled, “Transaction Reporting”. Each NCA maintain their own list of registered ARMs and what products they are approved to report. For example, CREST is not registered to report OTC trades with the FCA, whilst the others are. The ARMs currently registered with the FCA include Credit Suisse/DARE, TRAX, UNAVISTA, GETCo and TransacPort For the latest list of ARMs go to: (http://www.fsa.gov.uk/Pages/Doing/Regulated/Returns/mtr/arms/index.shtml).
Consolidated Tape Provider (CTP): like an APA, a CTP provides trade transparency publications and post-trade information, nonetheless as a broader category of ESMA Data Reporting Services Providers it consolidates information from multiple sources for publication.
National Competent Authority (NCA): Have the function of protecting consumers’ rights when dealing with credit or financial institutions, by ensuring firms accurately and timelessly report trading activities in their jurisdiction. A list of the NCAs can be obtained by going to the ESMA website:
Trade Repository (TR): A Trade Repository or Swap Data Repository is an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives. Some Trade Repositories offer reporting capabilities to ARMs for its clients. For the list of registered Trade Repositories: https://www.esma.europa.eu/supervision/trade-repositories/list-registered-trade-repositories