Trade reporting: Difference between revisions

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-Trade reporting, an obligation imposed by MiFID under Art. {{eudirprov|28|MiFID}} is to be lovingly compared and contrasted with [[transaction reporting]], an obligation imposed by MiFID under Art. {{eudirprov|25|MiFID}}.
+{{mifid2anat|28}}
+{{Tradevstransactionreporting}}
+'''Immediate post-trade reporting''' is an obligation imposed by {{tag|MiFID}} under Art. {{eudirprov|28|MiFID}} is to be lovingly compared and contrasted with T+1 [[transaction reporting]], an obligation imposed by {{tag|MiFID}} under Art. {{eudirprov|25|MiFID}}.
 A firm must make public specified information about transactions in shares admitted to trading on a regulated market outside a {{tag|regulated market}} or {{tag|MTF}}. Typically this must be done within 3 minutes of the transaction taking place. Deferred publication is however permitted for very large trades.
+In a {{nutshell}}:
+#Investment firms who execute, outside a {{tag|regulated market}} or {{tag|MTF}}, transactions in shares that are admitted to trading on a {{tag|regulated market}}, must publish the volume and price of those transactions and the time at which they were concluded as close to real-time as possible, in a way which is easily accessible to other market participants.
+#This must happen in accordance with Article {{eudirprov|45|MiFID}}. Article {{eudirprov|45|MiFID}}'s provisions allowing for deferred reporting for certain transaction types applies mutatis mutandis where those trades are undertaken outside regulated markets or MTFs.
+#The Commission shall:
+##specify how investment firms may comply with their reporting obligations under paragraph 1 including:
+###through the facilities of any {{tag|regulated market}} {{tag|MTF}} on which the share in question is traded;
+###through a third party;
+###through proprietary arrangements;
+##clarify the application of the obligation under paragraph 1 to transactions involving the use of shares for collateral, lending or other purposes where the exchange of shares is determined by factors other than the current market valuation of the share.
-{{eudirsnap|28|MiFID}}
-{{anat|MiFID}}
+{{eudirprov|28|MiFID}}