Mifid Data Runs Aground with Issues at European Regulators
Glitches and halts mark first few weeks of transparency requirements at systems operated by regulators.
Under the revised Markets in Financial Instruments Directive and Regulation, known as Mifid II, firms are required to submit trade reports in near-real-time to approved reporting mechanisms (ARMs), which send them on to systems operated by National Competent Authorities (NCAs).
However, problems reportedly began occurring at systems operated by NCAs immediately after the January 3 implementation date of Mifid II. Sources tell WatersTechnology that the UK Financial Conduct Authority’s (FCA)
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