MiFID II Transaction Reporting Software Solution

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MiFID II / MiFIR trade reporting

Matterhorn offers a smart MiFID II / MiFIR transaction reporting software solution for trade reporting to your national competent authority. Relieving you from the task of developing a bespoke solution. Our reporting software creates the mandatory daily transaction report in the required format, minimizing the necessary input by re-using static data.

We offer light weight software, requiring only a web browser. It is an easy to use and cost-efficient solution containing over 1200 business & technical rules that can be rapidly implemented with a very small footprint. No client data will be transferred over the internet or stored on our servers.

The user interface based on pre-defined transaction reporting templates is very intuitive, requiring virtually no training before use. After validation of the input data the transaction report can be directly uploaded to your National Competent Authority in the mandatory ISO 20022 format.

MiFID II  / MiFIR Trade reporting application

  • Import data with standardized and well documented templates for Trades, Instruments, Parties,...
  • Import data in different file formats (.xls, .csv, etc)
  • Import and combine data from multiple source systems
  • Flexibility to organize your source data by multiple files, single file and/or multi-tab excels
  • Validate import data based on ESMA’s guidelines and highlight errors and warnings
  • Clear error messages and colors to identify data problems
  • Retain static data for your next MiFID II transaction report
After succesful validation:
  • Generate MiFID II trade files (XML, ISO20022) with a click of the mouse,
  • Supporting all major EU national competent authorities
  • File compression (ZIP, GZIP, etc) and file names in accordance with the different national competent authorities

MiFID II / MiFIR Consultancy

Our consultants have built up extensive knowledge of the MiFID regulation since its inception in 2007 and can, at request, assist you with the implementation of the Matterhorn MiFID II Transaction Reporting solution and take responsibility for a successful implementation.

non-EU reporting

Our MiFID II transaction reporting software can also be used to report non-EU trades to the national competent authority.

Why use the Matterhorn MiFID II Transaction reporting application?

The Matterhorn MiFID II transaction reporting software has been designed to retain all data required for the MiFID report only within the client environment.

No report-data will be transferred over the internet or stored on Matterhorn servers, making the application highly secure

With each logon the client recieves the latest software ensuring 100% compliance with the lastest ESMA insights.

Matterhorn smart MiFID II transaction reporting software solution is offered as a Software-as-a-Service (SaaS) solution. Matterhorn hosts its Regulatory Reporting software in a European located data center with class-leading security, meeting regional compliance and data residency requirements.

The SaaS MiFID II transaction reporting software solution is deployed over the internet and automatically updated to ensure compliance with the latest ESMA guidelines.

With our SaaS solution your organization is provided with a complete, flexible and secure solution for your MiFID II transaction reporting. The SaaS solution offers scalability, round the clock accessibility and great reliability.

At request our MiFID II transaction reporting software solution can also be privately hosted or on premises.
Matterhorn smart MiFID II transaction reporting software solution requires minimal input for creation of the complete report. Subsequent reports take even less time to complete as data is re-used to a large extend.
Our consultants have extensive knowledge of the MiFID II / MiFIR regulation & the local filing requirements of the different national competent authorities, enabling them to efficiently highlight your data and process requirements ensuring full compliance with your MiFID II transaction reporting obligations.

Our professionals take full responsibility for a successful implementation. Your succes is ours.

The Matterhorn MiFID II transaction reporting application mirrors the MiFID II / MiFIR regulations and local regulator technical requirement with extensive validations ensuring report acceptance by the different regulators.  

Read more about MiFID II / MiFIR

Click to read more about the MiFID II / MiFIR regulation

What is MiFID

MiFID I came into force in 2007 by the EU to regulate financial markets, introducing a harmonized transaction reporting regime across the EU. With MiFID II, the European Commission has introduced amendments to the transaction reporting, greatly increasing both the scope of transactions to be reported, and the data that needs to be reported for each transaction. MiFID II also harmonizes the implementation of reporting by mandating the national competent authorities to use the ISO 20022 format.

The list of financial instruments now covered has been extended to include almost all instruments traded in European markets with particular emphasis on the OTC derivatives market that was previously out of scope for MiFID I. The list of data points to be reported per transaction has been increased to 65, including buyer/ seller information, transaction details, short sell flags and transaction waiver information.

MiFID II does not, in the first instance, apply to investment managers who purely carry out collective portfolio management of Alternative Investment Funds (“AIF) and UCITS.

The basic obligation is for investment firms which execute transactions to report to their home-state national competent authority “as quickly as possible and no later than the close of the following working day (“T+1). This is applicable to all instruments traded on a venue including underlying instruments or indexes of a basket of instruments. Transaction reports must identify both clients and traders or algorithms responsible for an investment decision and its execution.

What defines a transaction under MiFID II / MiFIR

The proposed definition of a transaction covers the “acquisition, disposal or modification of a reportable financial instrument”, including but not limited to:

  • A purchase or sale (this is the MiFID I definition);
  • A simultaneous acquisition and disposal where there is an obligation to publish post-trade, even if there is no change of beneficial ownership (e.g. when exercising options); and
  • The entering into or closing out of such an instrument.

Exclusions from the definition of transactions include:

  • Securities financial transactions (e.g. stock lending, repurchase agreements);
  • Post-trade assignments and novations in derivatives;
  • Portfolio compressions;
  • The creation, expiration or redemption of instruments resulting from pre-determined
  • contractual terms or mandatory events where no investment decision is occurring;
  • A change in the composition of an index after a transaction has taken place.

When does a transaction have to be reported under MiFID II / MiFIR

The basic obligation is for investment firms which execute transactions to report to their home-state national competent authority “as quickly as possible” and no later than the close of the following working day (“T+1”). This is applicable to all instruments traded on a venue including underlying instruments or indexes of a basket of instruments. Transaction reports must identify both clients and traders or algorithms responsible for an investment decision and its execution.