Regulation such as MiFID II is introducing a broad range of changes to data and reporting obligations for FX market participants. From the public reporting of trades (price and volume) across all financial instruments and asset classes to increased data requirements, the new regulation impacts all market participants. With CLSReporting you get a comprehensive view of your FX trade activity so you can support your reporting requirements while enhancing your own internal analysis of trades executed and counterparty control.
Developed and designed to facilitate the requirements for trade-related transaction specific data, CLSReporting can be used in multiple ways to drive a better outcome for post-trade operational, compliance and risk efficiencies. Provided as an end-of-day report, our new service will capture data required for reporting under MiFID II such as legal entity identifiers (LEIs) for counterparties and funds, timestamps, product identifier (spot, forward or swap) and execution venues, allowing clients to address their transactional reporting requirements more effectively.
How it works:
In response to market demand, CLS will provide the ability for parties and counterparties to FX trades to exchange additional information in their settlement instructions submitted via SWIFT FIN and ISO20022 XML messages.