MiFID II

The MiFID II Directive and the MiFIR Regulation were created to harmonize the European financial framework, which lays out a complex variety of new instruments and services, in order to enable firms to provide investment services throughout the European Union.

BME Regulatory Services has been the data supply services provider (PSSD) of BME since 2017. BME RS helps investment service companies and EU banks comply with their transaction reporting obligations under MiFID II/MiFIR:

• Communication of operations (i.e., transaction reporting)
• Pre and post transparency of OTC operations (i.e., quote & trade reporting)

With a team of experts in accordance with national and European legislation, BME Regulatory Services presents the following MiFID II services:

• Approved Reporting Mechanism (ARM): allows the communication of operations on financial instruments executed either in a trading venue or in an OTC environment to the competent authority of the client's service.
• Transaction Reporting Service (TRS): allows the communication to CNMV of the operations executed in BME trading venues by their market members.
• Approved Publication Arrangement (APA): allows the real-time publication of information on operations on financial instruments executed off-market (i.e., OTC).
• Systematic Internalizers (SI): allows the real-time publication of firm quotes from systematic internalizers.

BME Regulatory Services provides all its clients with a web interface that displays an overview of the degree of compliance with the client’s regulatory reporting obligations, in addition to offering statistics and the option to operate manually. In a simple and integrated way, the dashboard allows the user to manage, monitor, and correct all the information reportable under MiFID II/MiFIR.