MIFIR Transaction Reporting

Course Description MiFIR Transaction Reporting course is a one day intensive programme delivered by an expert in the regulatory reporting aimed at foundation to practitioner level. The programme is designed in accordance with ESMA guidelines and provides a deep dive review and analysis of the key elements required by the FCA and ESMA.  The programme is suitable for anyone involved in reporting, compliance and operations and includes many discussions, practical exercises and case studies. At the end of the course there will be a test performed to help participants consolidate their knowledge. Course certificates will be provided on completion.  You may be also interested in one of the following programmes:  MiFID Compliance - 1 Oct & 5 Dec 2019, London Clearing & Settlement for Securities & Derivatives - 15 Nov 2019, London CRS & FATCA - 30 Sep & 4 Dec 2019, London SFTR - Securities Financing Transactions Regulation - 3 Oct & 5 Dec 2019, London - NEW Register for any 2 programmes at the same time & save £100 + VAT (in total, not per course).

What Will You Learn By the end of this course you will:  Understand the scope of changes under MiFIR and how it differs from MiFID I and EMIR Review the changes in market structure, investor protection, conduct of business and transaction reporting Know what to report and how - field by field review and analysis Analyse different trading scenarios  Go through reference data standards and how to report different financial instruments Understand general principles including trading capacity, chains, transmission of orders, identifiers Know reporting exemptions  Learn about organisational requirements and challenges  Consider management and systems controls & governance Explore reporting challenges and how to overcome them You will go through many case studies and real life examples

Main Topics Covered During This Training Background to the transaction reporting requirements Review of main changes between MiFID I to MiFIDII/MiFIR I Scope of changes  Difference between EMIR and MiFID II Review of changes in market structure, Systematic Internalisers Review of financial instrument changes within the scope of market structures Guidelines on Transaction Reporting Reporting exemptions  A look at general principles, chains, blocks, trading scenarios, transmissions, financial instruments Reference data standards and field by field review and analysis  Reporting specific financial Instruments Corporate Governance and Organisation Requirements  Review of technical standards Systems and controls

Who Should Attend Professionals from banks and financial institutions involved in:  Transaction Reporting Compliance Audit Operations Supporting functions

MiFIR Transaction Reporting - A 1 Day Training Course 

9.00 a.m. - Course Start

This course provides a deep-dive review and analysis of key elements required to meet the ESMA’s transaction reporting requirements.

Background to the transaction reporting requirements

• Review of the previous MIFID I regulation, the thought process behind the change, the regulators and the drive for better transaction reporting. 
• Review of main changes between MiFID I to MiFIDII/MiFIR looking at areas of market structure, investor protection, conduct of business and transaction reporting
• Scope of changes in areas of buy/sell, decision makers, trading capacities, transmissions, financial instruments, counterparties including a review of exclusions
• Difference between EMIR and MiFID II 

 

Review of Changes in Market Structure

• Review of Exchange Traded vs. OTC
• Review of changes to market structures (RM, MTF, OTF)
• Review to changes to Systematic Internalisers, dark pools and broker crossing networks
• Reporting exemptions (inclusion and exclusion list)
• Review of financial instrument changes within the scope of market structures

 

 

Guidelines on Transaction Reporting

• Who is obliged to report, looking at different scenarios and analysis of reporting parties
• Definition of a transaction and exclusions (acquisition, disposal, nominal)
• Definition of execution of a transaction (venue, systematic internalisers, branches, persons, algorithms and other scenarios)  
• Reporting exemptions (inclusion and exclusion list)
• A look at general principles, chains, blocks, trading scenarios, transmissions, financial instruments
• Usage of LEI, ISIN

 

General Principles

• Trading Capacity, impact on ‘buyer’/’seller’ fields and decision makers, investment decisions, execution within the firm
• Chains – impact of deal on own account vs. matched principal vs any other capacity
• Transmission of order – implications for buy-side, implication of Article 4
• Review of identifiers for parties, (individuals, entities, investment firms, firms etc)
• Mechanics for reporting and submission process

 

Block Trading

• Understanding the importance of block trading identification and a look at some case studies
• Buyer/seller (single vs. joint accounts)
• Decision maker of buyer/seller
• Investment decisions when made within the firm
• Execution scenario (primary responsibility person vs. algorithm)
• Trading venue (within vs. outside union, systematic internaliser)
• Waiver (OTC post-trade vs. commodity derivative indicators)
• Branch scenarios (executions done on behalf of, own account, EEA branches of a non EEA Firm)
• Status of transaction reports, corrections, cancellations

 

Trading Scenarios

• Overview of security transfers and scenarios
• Handling investment firms and Interposing scenarios
• Dealing with Group Orders – impact of one market vs. several markets
• Review of OTF
• Review of investment firms under discretionary mandate from clients
• Review of Direct Electronic Access
• Review of Contract of Difference and impact of hedging
• Review of external Asset Managers, Fund Managers, Private Banking, Funds, Investment Firms and Firms

 

Reference Data Standards

• Field by field review and analysis 
• Cancellations, New Reports, Rejections, Resubmissions
• Instrument and Underlying Instrument identifiers (ISIN vs. Other, OTC vs. ETD)
• Identification of organisations vs. individuals
• Reporting specific financial instruments:
• Equity or equity like instruments
• Bonds or other forms of securitised debts
• Options
• Contract for difference
• Spreadbet
• Credit Default Swap
• Swaps
• Commodities based derivatives
• Complex trades

 

Corporate Governance and Organisation Requirements 

• Review of technical standards
• Systems and controls

There will be a test performed at the end of the course to check participants' knowledge. 

 

5 p.m. - Course Finish

The Course Director is an experienced leader, investment banking professional and subject matter expert with strong commercial acumen and over 18 years experience overseeing global business intelligence, regulatory programmes and data/predictive analysis science programmes across North America, EMEA, Asia and Emerging Markets for tier 1 Investment and Asset Management banks such as Deutsche Bank (Asset Management & Investment Bank), ABN AMRO Asset Management, UBS (Private Wealth & Investment Bank), Bank of New York Asset Management, JP Morgan Asset Management and HSBC Investment Bank, RBS Investment Bank and Amoo Venture Capital Advisory.

An SME across various regulations such as FATCA, CRS, CDOT, MiFID, MiFID II, MiFIR, BCBS, GDPR, EMIR and Derivatives expert, Simon has over 7 years hands-on experience consulting/advising in, implementing regulations (from back to middle to front office) and training senior banking and finance executives both on the business and IT sides. He has operated in different capacity from Programme Management, Senior Business Analyst to Business Architect working within change management and operating across front office, middle office and bank office with remit extending joint accountability with other team members for M&A governance, consortium management, branding & communications, trading & settlements and transfer agency technologies of £72 Billion Asset under Management. He has also served as a non-executive Director and Business Development Director to Amoo Venture Capital Advisory, advising and reshaping regulatory financial technology for start-ups businesses in need of seed capital of between $500 thousand to $100 million. 

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Open Public Courses

• MiFID Compliance - 1 Oct & 5 Dec 2019, London
• Clearing & Settlement for Securities & Derivatives - 15 Nov 2019, London
• CRS & FATCA - 30 Sep & 4 Dec 2019, London
• Mastering Operational Risk Management - 28-29 Nov 2019, London 
• AML - 3 Oct & 27 Nov 2019, London
• SFTR - Securities Financing Transactions Regulation - 3 Oct & 5 Dec 2019, London - NEW

 

In-Company Training  

• Basel II & III
• Managing FX Operational Risk
• Market Risk Management
• International Payments
• Enterprise Risk Management
• Fraud Prevention
• Anti-Money Laundering
• Fixed Income and Currency Risk
• Bond Risk Management
• Derivatives - Applications and Settlement
• Business Continuity Management & Scenario Planning
• Project Management for Banks and Financial Institutions
• Managing Cross-System Risks in Payments & Settlements
• Auditing e-Banking and more
• EMIR
• Dodd-Frank

 

If you have a group of 3 or more people, we can customise any of our 100 financial or soft skills programmes and deliver it in any location worldwide. 

All our trainers have at least 20 years of practical experience from their respective sectors and understand well the day-to-day requirements and challenges your employees may be tackling. They have great communication skills and bring a lot of enthusiasm to the classroom. 

E-mail us or call on +44 (0) 207 995 8597 to discuss your requirements and we will be happy to prepare the training programme best suited for your organisation.