NEX Regulatory Reporting, a NEX Group business which provides regulatory reporting services across global regulatory regimes, announces today that Abide Financial has received approval from the Financial Conduct Authority (FCA) as an Approved Publication Arrangement (APA), with effect from 3 January 2018. The authorisation will allow NEX Regulatory Reporting to provide enhanced MiFID II services.

The decision to apply for APA status was driven by client demand, with most of the business’ new and existing clients already in testing to ensure they are prepared to go live in January. NEX Regulatory Reporting has been providing MiFID I reporting services to banks, brokerage houses, hedge funds and asset managers since 2011 and is at the forefront of transaction services innovation and regulatory reporting expertise.

In addition to obtaining APA status under MiFID II, NEX Regulatory Reporting is also acting as a Registered Reporting Mechanism for REMIT and a hub for EMIR. Pending approval from the FCA, it will also be able to act as an Approved Reporting Mechanism under MiFID II and a Trade Repository under EMIR from ESMA.

Collin Coleman, Head of NEX Regulatory Reporting, said: “The FCA’s approval of our APA under MiFID II is an important milestone in building our multi-regime transaction reporting infrastructure and helps strengthen our position as the partner of choice for market participants’ global regulatory needs.

“The use of APAs will be essential for efficient functioning under MiFID II and we strongly encourage any market participants who have not yet commenced testing to do so immediately to ensure they can continue to trade post 3 January 2018.”

NEX Regulatory Reporting is a reporting partner to over 135 clients including banks, asset managers, hedge funds, brokers and trading firms and venues.

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