A-Team Insight Blogs

Kaizen Extends ReportShield Service to MiFIR Trade Reporting

Share article

Quality assurance provider Kaizen Reporting has branched out to include Markets in Financial Instruments Regulation (MiFIR) reporting in its flagship ReportShield service, which will be led by new hire Chris Machin, the brains behind the London Stock Exchange’s (LSE’s) MiFID II transparency service, TRADEcho.

Kaizen managing director Ian Rennie notes: “With both buy-side and sell-side financial firms turning their attention to the quality of the data published in the real-time reports through Approved Publication Arrangements, trade reporting is an important focus for our clients.”

Under MiFID II, investment firms are required to report on both trades and transactions. Trade reporting improves the near to real-time trade transparency information published to potential investors. Financial details of trades are reported to an Approved Publication Arrangement (APA) for dissemination to the market.

In transaction reporting, trade details must be reported in T+1 to an Approved Reporting Mechanism (ARM) that validates the data before sending the reports to regulators. Kaizen’s ReportShield assurance service provides a set of four controls that test the accuracy and completeness of these regulatory reports.

Machin, who as head of client support for Simplitium was instrumental in developing the APA TRADEcho in partnership with the LSE, brings with him to Kaizen a wealth of experience on regulatory regimes including MiFIR, CSDR, SFTR, MAR, EMIR and Dodd-Frank.

Formerly in global banking and with experience at both UBS and Credit Suisse, Machin’s move to Kaizen adds to the company’s growing list of regulatory experts.  Earlier this year, the regtech firm hired former regulator and EMIR and MiFIR expert David Nowell, along with the former head of the ICMA Taskforce on SFTR, Jonathan Lee.

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Upcoming Webinar: Address Emerging Operational Risk and Alleviating Data Blind Spots with AI Powered Risk Management

Date: 15 July 2020 Time: 10:00am ET / 3:00pm London / 4:00pm CET The digitalisation of financial services is in full flight, as financial institutions strive to offer the same levels of service and improved customer experience that consumer markets have enjoyed for some time. This digitalisation – providing seamless access to appropriate services on...

BLOG

GLEIF Acknowledges ESMA Decision to Delay Requirement for Third-Country Issuer LEIs in SFTR Reporting

The European Securities and Markets Authority’s (ESMA) decision to provide a grace period of 12 months for the inclusion of Legal Entity Identifiers (LEIs) in Securities Financing Transactions Regulation (SFTR) reporting in the case of third-country issuers has been acknowledged by the the Global LEI Foundation (GLEIF) and welcomed by industry participants. ESMA stated in...

EVENT

Data Management Summit New York City

Now in its 9th year, the Data Management Summit (DMS) in NYC explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Entity Data Management Handbook – Sixth Edition

High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are...