MiFID II requires TP ICAP group companies to report and record personally identifiable information (PII) as part of its record-keeping and transaction reporting obligations.
TP ICAP group companies are using the Approved Reporting Mechanism (ARM) service provided by NEX Regulatory Reporting (NRR) to perform transaction reporting where required. MIFID II requires the identification of those involved in the decision and execution process of a transaction. Whether an individual or a group of people make the decision to trade, the firm or venue must report the one person considered to have primary responsibility for the transaction. In some cases, this is an Investment Decision Maker (IDM) as well as an Execution Decision Maker (EDM). These people need to be identified by an ID number, passport number, tax, national insurance number or a concatenated code, depending on their nationality.
What should you expect?
We request that clients submit their PII data to a secure portal provided by our partners, NEX Regulatory Reporting (NRR). This is an established service provided to a number of existing NRR clients as part of the ARM. NRR have called this service their Industry Standard Common Identifier or “ISCI” solution.
If you would like to submit your PII Data for this venue click here.