FSA Drafts MiFID Reporting Specs

The specifications will apply to Authorized Reporting Mechanisms (ARMs) used by firms to channel transaction reports to the FSA. The specifications will enable the FSA to collect transaction reports in a standard format, to automate data consolidation and mining.

FSA officials decline to comment on details of version 1.0 of the specifications, which have been released to "all potential ARM applicants," an FSA official says. The data within transaction reports will include all of the 23 fields

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