16 July 2018
Visit www.gemalto.com

Bloomberg gets FCA authorisation to operate a MiFID II ARM

29 September 2017  |  3382 views  |  0 Source: Bloomberg

Bloomberg Data Reporting Services Limited (BDRSL) has today received authorisation, effective 3 January 2018, from the UK Financial Conduct Authority (FCA) for its Approved Reporting Mechanism (ARM).

Under MiFID II, investment firms will be required to submit transaction reports containing up to 65 data fields including LEIs (legal entity identifiers), personal and trade data to local regulators, known as National Competent Authorities (NCAs).

As a component of Bloomberg’s pre-integrated MiFID II solution, Bloomberg’s ARM and reporting solutions will allow firms to enrich their transaction reports with data from Bloomberg or third-party order management systems.

“The authorisation of our ARM for MiFID II is the final piece of the puzzle allowing Bloomberg to offer a complete regulatory reporting service for MiFID II. The service, used in connection with our seamlessly pre-integrated best execution and trade archiving and reconstruction solutions, helps firms ensure that data is consistent across their entire workflow, which will be critical given the vast amount of data firms need to manage under MiFID II,” said Ben Macdonald, Bloomberg’s Global Head of Enterprise Products.

Today’s ARM authorisation follows the recent authorisation of the Bloomberg APA for MiFID II trade reporting. Together, these provide firms with an option for complete MiFID II trade and transaction reporting, and complement Bloomberg’s reporting solutions for FINRA Trade Reporting and Compliance Engine (TRACE), the Bloomberg Swap Data Repository (BSDR) for Dodd Frank reporting, and the Bloomberg Trade Repository (BTRL) for EMIR reporting. The ARM will also connect to multiple NCAs across Europe.

Alejandro Perez, Global Head of Post-Trade Solutions at Bloomberg, added: “We are very pleased that the FCA has authorised our ARM for MiFID II transaction reporting. This further strengthens our position as a reporting partner for firms globally, across asset classes and regulatory regimes.” 

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 www.aciworldwide.com

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...
10532 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9528 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8086 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8008 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7629 views comments | 7 tweets | 13 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job