16 July 2018
Visit www.gemalto.com

Bloomberg Toms designated as FCA approved for MiFID transaction reporting

19 February 2015  |  2948 views  |  0 Source: Bloomberg

Bloomberg announced today that as of December 1, 2014, Bloomberg's sell-side trading solution has been granted approval by the Financial Conduct Authority (FCA) to report securities with an International Securities Identification Number (ISIN) and Over The Counter (OTC) derivatives as part of the Approved Reporting Mechanisms (ARM) regime within the United Kingdom.

The Bloomberg transaction reporting service is now available as part of the normal ticketing workflow to all current users of Bloomberg TOMS, a sell-side trading solution for fixed income and derivative transactions.

"The ARM approval allows Bloomberg's sell-side trading solution to deliver to firms a similar regulatory reporting infrastructure for the FCA to what Bloomberg established in the U.S. for FINRA's Trade Reporting and Compliance Engine (TRACE) reporting requirement in 2002," said Mike Wood, global head of Bloomberg's sell-side fixed income order management solutions group. "The ARM designation represents a great opportunity for our sell-side clients to reduce the cost of transaction reporting and improve efficiency."

Bloomberg's sell-side trading solution is an award-winning global multi-asset order management solution for the sell-side that is relied upon by over 375 firms to provide trade reporting services to regulatory authorities across the globe.

The FCA ARM reporting solution uses Bloomberg market data to reduce transaction over-reporting and meet the current reporting requirement by the end of the following business day (T+1). The reporting solution is accomplished directly via the trade ticket so that no middleware, manual re-keying or file conversions are required, helping to position firms for the accelerated trade reporting requirements expected in 2017 for MiFID II.

Given the multiple requirements for regulatory and exchange reporting across asset classes, the Bloomberg sell-side trading solution ARM represents a significant step toward providing clients with a regulatory reporting suite that addresses EMIR, MiFID, MiFID II, TRACE and off-exchange transaction reporting via a single trading platform.

According to Aite Group senior analyst Virginie O'Shea, "As the scope of regulatory reporting increases, so does the burden on reporting institutions. Leveraging a single platform to address transaction reporting requirements across assets and regulatory regimes is a good way for firms to gain cost and operational efficiencies." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Bloomberg

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10552 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9568 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8112 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8101 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7659 views comments | 7 tweets | 13 linkedin

Featured job

Find your next job