Optionen borse definition
Amidst all this complexity there are some fundamentals that can be defined, such as what the options are for performing the actual transaction reporting. In optionen borse definition further article we'll go into more detail on the last of those options, Delegated Reporting. If a firm is only reporting its own transactions, then self-reporting may seem like optionen borse definition obvious choice.
That leaves reporting via an ARM versus delegated reporting. Given that with delegated reporting a firm still has the responsibility to ensure that the data is accurate and reported in a timely manner, it only makes sense to delegate your reporting if that process is less onerous than reporting yourself via an ARM.
Optionen borse definition are two scenarios where that could be the case: So in conclusion, buy side firms need to understand who they might delegate to and what is on offer to them before deciding to optionen borse definition or report optionen borse definition via an ARM; other firms are likely to report via an ARM already, with a very few making the business case for self-reporting.
Functional support Email rrh deutsche-boerse. Back to page Print. Adobe Flash Player is not available. Data Shop Historical Data. Content 17 October Regulatory servicesTransaction reporting. Self-Reporting optionen borse definition If a firm is only reporting transactions that it has executed on its own behalf then it can report these transactions directly, without the involvement of any third party.
The firm would need to establish, and maintain, interfaces to each of the National Competent Authorities Optionen borse definition that it needs to report to. Report via an Approved Reporting Mechanism ARM - A firm can engage with a third party optionen borse definition organisation that has been approved by the relevant NCAs to perform the duty of collecting, validating and reporting the data.
Delegated Reporting - A firm can delegate its reporting process but not the obligation or responsibility to another party. Typically, this is done buy side to sell side, to clearing brokers, or other third parties involved in the transaction chain, who already have a large proportion of the reportable data.
In this scenario, firms will already have a number of interfaces with their counterparties. So how to make the decision on which approach to take? Well there are some broad rules that can assist: