FSA confirms LSE reporting service is Mifid-compliant

Stock exchange gains approval for its Exchange Reporting Service

LONDON – The UK Financial Services Authority (FSA) has passed the London Stock Exchange’s Exchange Reporting Service (ERS) as an approved reporting mechanism (ARM) for the provision of transaction reports under the Markets in Financial Instruments Directive (Mifid), which comes into force next month.

The LSE’s reporting service offers a comprehensive low-cost, multi-asset class transaction reporting service for customers that want a straightforward way to submit Mifid-compliant transaction reports to the FSA.

The service will encompass the expanded range of transactions for which reports to regulators will now be required, including on-exchange and over-the-counter trading of equities, debt and derivatives, as well as trades carried out on regulated markets or on prescribed markets such as AIM.

The LSE has stated that it is also considering expanding the ERS to allow transaction reports to be submitted to other European regulators.

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