In 2007 the European Unions first attempt to regulate the financial market saw the introduction of MiFID I the effect of which was a harmonised transaction reporting regime across Europe. In MiFID II, the European Commission takes the current objective of transaction reporting - the detection and investigation of potential market abuse – and expands it into supporting “market integrity”. MiFID II requires major implementation changes and a reassessment of existing business models. The original MiFID led to a major shift in the cash equity markets, and the MiFID II impact will be even more pronounced, to cover the way almost all OTC products are priced, traded and reported.
The original MiFID Transaction Reporting provides a platform for European Market participants to gain an appreciation of changes introduced by MiFID II and get ahead of the forthcoming MiFIR Transaction Reporting through developing a reporting model to suit their business.
This one-day course conducted by a City expert provides an overview of the original MiFID transaction reporting, identifies the changes introduced by MiFID II, discuss MiFIR and highlights how MiFID can help pave the way for better MiFIR Transaction Reporting.
There will be a test performed at the end of the course to check participants' knowledge.
By the end of this training you will learn about:
- The scope and content of the MiFID regulation
- The difference between MiFID 1 & 2
- Who is affected and how
- Transaction reporting requirements and scope
- Reportable firms, instruments and transactions
- How to treat different trading scenarios
- Data aggregation and management
- Reporting challenges and how to overcome them