MiFID II/MiFIR XML Reporting

ESMA Logo

The Financial Instruments Reference Data System (FIRDS) covers the Markets in Financial Instruments Regulation (MiFIR) and Market Abuse Regulation (MAR) requirements for reference data collection and publication, collection and processing of additional data to support the MiFIR transparency regime and suspensions’ coordination.

1. MiFIR/ MAR Reference Data – The requirements of Article 27 of MiFIR, Article 4 of MAR and related technical standards oblige trading venues and systematic internalisers to submit reference data for the relevant financial instruments to national competent authorities (NCAs) who will subsequently transmit it to ESMA for publication on its website.

2. MiFIR Transparency Requirements – MiFIR introduces rules with respect to transparency obligations that require the publication of transparency thresholds applicable to each financial instrument. The reporting instructions specify the provision of data necessary to support the MiFIR transparency regime describing the characteristics of information required for the uploading interface between Trading Venue or NCAs systems and the FIRDS for transparency.

3. MiFIR’s Double Volume Cap Mechanism – In order to ensure that the use of waivers from pre-trade transparency does not unduly harm price formation, MiFIR introduces a mechanism that caps the amount of trading.

4. Transaction Reporting Guidelines and Transaction Reporting Exchange Mechanism (TREM) – TREM covers the requirements for reporting of transactions to competent authorities under Article 26 of MiFIR and the related technical standards. ESMA Guidelines specify the construction of transaction reports field by field for the various trading scenarios. Each of the scenarios is accompanied with an example of the XML text to be used to represent the specific reportable values.

MiFID/MiFIR Double Volume Cap Schema Rendered in XML Authority

CONTENTS.

MiFID II/MiFIR XML Reporting covers the following areas:

  • MiFIR/ MAR Reference Data
  • MiFIR Transparency Requirements
  • MiFIR’s Double Volume Cap Mechanism
  • Transaction Reporting Guidelines and Transaction Reporting Exchange Mechanism (TREM)

MiFID/MiFIR XML SCHEMAS.

XML Authority’s schema library contains all published MiFID/MiFIR XML schemas published by ESMA.

CbC Schema in the Schema Library

SIMPLIFY REPORTING.

XML Authority’s intuitive user interface makes producing valid Country by Country Reporting XML filings easy with little or no training.

The user guide provided by the OECD can be difficult to interpret.  Using XML Authority’s simple presentation of the schema as a set of forms and tables, a detailed understanding of the data requirements can be gained at a glance.

HIDE COMPLEXITY.

Reports can be further simplified by eliminating non-relevant sections using the Schema Masking functionality.

Easly hide non-mandatory elements (individual reporting elements or entire report sections) which not only simplifies the schema layout but also reduces the complexity of your required import data.

Masking of CbC Schema
Integrate to Data in Excel or Relational Database

AUTOMATE AND REDUCE ERRORS.

Save time and reduce errors by importing data from XML Authority generated Microsoft Excel import templates or linking to data in relational databases.

Create a set of related tables from which to read data which conform to the Country by Country Reporting schema using database scripts generated by XML Authority itself.

ACCURATE REPORTING.

Be assured that your data is in compliance with the requirements of the schema through XML Authority’s validation functionality.

Get real-time feedback on the validity of data input and use the interactive Validations panel to help find and navigate to issues which would cause rejection at your local Tax Authority’s submission gateway.

 

CbC Validation

Hiding the complexities of XBRL.

Visit Store Contact Us