As of 1 November 2007, the EU directive (2004/39/EC), Markets in Financial Instruments Directive (MiFID), is in effect.
Investment firms shall now report all transactions with financial instruments admitted to trading on a regulated market or an MTF (multilateral trading facility) to Finansinspektionen. From 1 September 2011 transactions with OTC derivatives shall also be reported.
It is important that all investment firms that are obliged to report to FI have tested their reporting procedures. FI describes here a routine to be used to assure that the investment firms can use the transaction system TRS for reporting to FI.
If the reporting firm (RF) decides to use a third party for reporting, a technical reporting firm (TRF), FI must be informed of this. Otherwise, FI assumes that the investment firms will act as both a Reporting Firm and a Technical Reporting Firm. More information about this is available in “TRS Report Format for reporting parties”.
The Nordic countries have developed a common TRS application. It has resulted in common technical interfaces and methods for firms reporting transactions in these countries.
