About a-team Marketing Services

A-Team Insight Blogs

CLS Offers CLSReporting to Support MiFID II FX Reporting Requirements

Subscribe to our newsletter

Market infrastructure provider CLS has introduced CLSReporting, a product for foreign exchange (FX) matched instructions that supports members with Markets in Financial Instruments Directive II (MiFID II) reporting requirements. The product is a response to market demand and will provide the ability for parties and counterparties to FX trades to exchange additional information in settlement instructions submitted via SWIFT FIN and ISO 20022 XML messages.

Alan Marquard, chief strategy and development officer at CLS, says: “We have been working closely with our members to understand how we can best support them with their MiFID II reporting requirements. By allowing clients to include additional information in their settlement instructions and providing a downloadable end-of-day report, we can help them capture data and streamline MiFID II reporting processes.”

The trade information for CLSReporting will be collated from CLSSettlement and CLSSameday in a single report after end-of-day processing for each service. This will create post-trade efficiencies for participants, allowing them to gather data necessary for MiFID II reporting with ease.

The report will also provide an enhanced view of overall FX trade activity. Data required for reporting under MiFID II, such as Legal Entity Identifiers (LEIs) for counterparties and funds, timestamps, product identifiers (spot, forward or swap) and execution venues, will be available in each report, allowing clients to address transactional reporting requirements more effectively.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to trade surveillance for market abuse

Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and cause financial instability. This webinar will discuss market abuse of different types, such as insider trading...

BLOG

FinCrime Enforcement Actions Up 31%, H1/2024 – Fenergo Study

Recently released findings from client lifecycle management (CLM), know your customer (KYC) and transaction monitoring specialist Fenergo indicate a 31% increase in the global value of penalties for anti-money laundering (AML) violations, compared to the same period in 2023. The findings underscore a significant rise in enforcement actions, particularly in the Asia-Pacific region, where penalties...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2024 – Twelfth Edition

Welcome to the twelfth edition of A-Team Group’s Regulatory Data Handbook, a unique and useful guide to capital markets regulation, regulatory change and the data and data management requirements of compliance. The handbook covers regulation in Europe, the UK, US and Asia-Pacific. This edition of the handbook includes a detailed review of acts, plans and...