We are pleased to announce that Abide Financial, part of NEX Regulatory Reporting, has received approval from the Financial Conduct Authority (FCA) as an Approved Reporting Mechanism (ARM), with effect from 3 January 2018.
With 92 days until MiFID II comes into effect, NEX Regulatory Reporting has been conducting testing of its ARM since July 2017 and will shortly be able to conduct end-to-end testing through to the FCA’s UAT environment, as well as to other National Competent Authorities (NCAs).
NEX Regulatory Reporting’s approval as an ARM is significant as it ensures that clients are provided with a full end-to-end solution under MiFID II. Starting with a thorough review of a client reporting environment, clients connect to the Global Reporting Hub once, before uploading their transaction data for data normalisation, enrichment, determination and validation before being delivered via the ARM to the relevant NCA.
In addition to obtaining ARM status, NEX Regulatory Reporting is also an Approved Publication Arrangement (APA) under MiFID II.