The ARM service - acting as agent in reporting to supervisory authorities under MIFIR requirements
The Approved Reporting Mechanism (ARM) service supports the reporting of details of transactions concluded in traded financial instruments to the competent supervisory authority in accordance with the requirements of Article 26(1) MiFIR. The reports cover transactions concluded in traded instruments or in instruments where the underlying instrument is traded (TOTV - traded on a trading venue). The trade venue is irrelevant: trades can be made on the market or over the counter.
KDPW acts as an intermediary for the transmission of trade details under the authorisation for the ARM service. The direct supervision of the ARM service operated by KDPW is exercised by ESMA.
Reports are submitted by the ARM to the supervisory authority with jurisdiction over the registered office of the investment firm or credit institution obliged to report.
KDPW offers a reporting service tailored to clients’ needs and supports the transmission of complete required data or use by KDPW of transaction data from markets operated by the Warsaw Stock Exchange or BondSpot (in the case of reports for transactions concluded on these markets). This simplified trade reporting model allows participants to significantly reduce the volume of data transmitted in the process of performing their obligations under MiFIR.
KDPW’s ARM system checks trade reports in accordance with the regulator’s validation table, ensuring that the reports are correct before they are submitted to the regulator.
