Transaction reporting

In accordance with Article 24 of the EU Markets in Financial Instruments Regulation (EU) 600/2014 (MiFIR), complete and accurate details of transactions in financial instruments shall be reported to the competent authority no later than the close of the following working day.

Who is subject to the transaction reporting obligation?

Transaction reporting applies to:

  • investment service providers executing transactions in financial instruments
  • investment service providers receiving orders and transmitting orders to other investment service providers for execution
  • operators of a trading venue, where their systems are used to execute transactions of a firm which is not subject to MiFIR
Providers of investment services

Investment service providers subject to transaction reporting comprise investment firms, credit institutions when providing investment services and/or performing investment activities as well as management companies and alternative investment fund managers which provide investment services.

Which financial instruments are subject to transaction reporting?

Article 26(2) of MiFIR defines the financial instruments transactions in which shall be reported. These include:

  1. financial instruments which are admitted to trading or traded on a trading venue or for which a request for admission to trading has been made;
  2. financial instruments where the underlying is a financial instrument traded on a trading venue;
  3. financial instruments where the underlying is an index or a basket composed of financial instruments traded on a trading venue.

What should be reported?

Regulations and guidelines Information to be reported Reporting frequency and reference dates Submission dates
2/2018 Kaupparaportointi, tarjouskirjanpito ja kellotahdistus MiFID II:n mukaisesti (in Finnish)

Transactions executed on financial instruments

 

 

Without delay or the next day

 

When are transactions reported?

Report transactions to the FIN-FSA at the latest on the working day following the transaction date.

Here's how to notify
  1. Register to the reporting service: https://dcs.bof.fiInstructions for registration and usage can be accessed from the front page of the service.
  2. Wait for FIN-FSA approval and list of single-use passwords.
  3. Submit the transaction report on a form, in a file in the reporting service or via SFTP connection.

Technical reporting instructions (information about naming conventions etc.).

Test service for transaction reporting

Test transaction reporting before beginning production reporting. You register to the test service in the same way as to the production service. The test reporting service is available at https://test.dcs.bof.fi.

More detailed information on transaction reporting

Both parties to a transaction, where they are investment service providers, report for themselves. However, the following information in both reports must match: venue, transaction time, volume, price, currency, up-front payment, currency of up-front payment and details of the financial instrument.

The overall view provided by the transaction reports must describe the changes in the reporter’s position or its client’s position due to the transaction. The reports must also indicate the roles of the reporter, the counterparty, any clients, and those acting on behalf of clients by proxy.

Transmitted orders shall be reported or arrangements shall be made for reporting them by the receiving investment service provider.

A transaction shall be reported on several reports if required by the type of transaction. The same transaction may call for several transaction reports for example if an executed transaction is allocated to several clients.

Releases

Changes and topical matters concerning transaction reporting are communicated in the Markets in financial instruments (MiFID II and MiFIR) newsletters (available only in Finnish).

The most recent newsletters can be found on the Newsletters and further information sheet for the MiFID II and MiFIR regulatory framework.

You can subscribe to the newsletter by completing the registration form.