Euroclear has published a guide to MiFID transaction reporting for the FSA via the CREST ARM (the Guide) which is aimed at helping CREST members meet both their own Markets in Financial Instruments Directive (MiFID) and FSA transaction reporting obligations and any reporting agent responsibilities they have to others.
The Guide explains how Euroclear UK & Ireland, in its role as an Approved Reporting Mechanism (ARM), will interpret transaction reports made by Member firms to CREST for onward reporting to the FSA (the ARM service). This Guide is a non-binding document which is designed to assist CREST members in understanding the ARM service. The ARM service forms part of the CREST Services (as defined in the CREST Glossary) and a full description of the ARM service will be contained in the CREST Manual.
The Guide does not cover any additional reports regarding transactions beyond the scope of MiFID, especially those that may be required by exchanges or transactions such as securities financing transactions (repos, stock lending, margin lending), the exercise of options or covered warrants or primary market transactions (such as issuance, allotment or subscription), in shares, depositary receipts in respect of shares, bonds and securitised debt.