After you became a KDPW ARM Participant, the easiest way is to log in to our Graphical User Interface, use the "Send xml message" button and upload the previously prepared file. That’s all!
What is the format used to report transaction details to KDPW ARM?
The main format used in the process of reporting is xml message auth.rpt, although to help ease the process, we also provide a form which allows to be input manually.
Are there times when the ARM system is unavailable?
Our service operates 24/7. The maintenance windows (if any) are communicated to customers well in advance.
What is the deadline for reporting?
Transaction details should be reported as soon as possible, but no later than the close of the next business day.
Who is required to report?
The obligation rests with investment firms that execute transactions in financial instruments. They need to report complete and accurate details of those transactions.
Where are the reports sent?
All of the reports sent to the ARM go to the relevant National Competent Authority (NCA). This depends on the registration of the investment firm. For example: if the firm is registered in Germany, BaFin (the German NCA) would receive reports about transactions concluded by this firm.
Does KDPW ARM perform any validation before sending reports to NCAs?
Yes. KDPW ARM carries out all ESMA validation rules so you can be sure that the reports sent on your behalf are absolutely correct.
Is the transaction life cycle subject to reporting?
No, there is no obligation to send life cycle events under MiFIR Regulation. Only reporting of new trades and cancelation is necessary.
What can I do to correct a transaction sent containing an error?
You should send an auth.rpt with the cancellation of the incorrect message, and then send the corrected message.
What does the ToTV abbreviation means?
‘Traded on a trading venue’ is referred to and is relevant for the scope of application of a number of provisions of MiFIR. The concept of TOTV is in particular relevant for transaction reporting obligations. All trades in ToTV instruments, even concluded outside of trading venues, are subject to MIFIR transaction Reporting.
