MIFIR EU & UK

MiFIR establishes transaction reporting obligations for investment firms and trading venues across the European Union. While EMIR focuses on derivative contracts, MiFIR captures a broader universe of financial instruments — including equities, bonds, exchange-traded derivatives, and any instrument admitted to trading or traded on a trading venue within the EEA.

Reporting Scope

Under MiFIR Article 26, investment firms must report complete and accurate details of transactions in financial instruments to their National Competent Authority (NCA) no later than the close of the following working day. Reports are submitted either directly or through an Approved Reporting Mechanism (ARM).

Key Obligations

• 65 reportable fields covering transaction details, instrument identification, counterparty data, and decision-maker information
• Instrument reference data: trading venues and systematic internalisers must submit reference data under RTS 23 for all instruments traded on their platforms
• Personal data requirements: reports must include national identifiers for natural persons involved in the investment decision and execution
• Short selling flags and waiver indicators: specific fields to identify short sales and applicable transparency waivers
• Transmission of order agreements: firms may arrange for reporting obligations to be fulfilled by the receiving firm under specific conditions

MiFIR reporting demands precise instrument classification using CFI codes, ISIN identifiers, and the FIRDS reference data system. Errors in buyer/seller identification, venue MIC codes, or quantity fields are among the most common causes of regulatory scrutiny.

Point Nine supports end-to-end MiFIR transaction reporting with automated data enrichment, ISIN and LEI lookups, and submission to all major ARMs and NCAs.