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Nasdaq Receives First Approved Reporting Mechanism (ARM) License in Sweden


STOCKHOLM, November 21, 2017 – Today Nasdaq Broker Services announced it has become the first firm to receive an ARM licence from Finansinspektionen, the Swedish Financial Supervisory Authority (FSA). The license is a requirement in order to submit transaction reports as a third party provider under MiFID II. Nasdaq will start acting as an Approved Reporting Mechanism for its clients on January 3, 2018, when the new regulations come into effect.

“By leveraging Nasdaq’s extensive experience in the regulatory reporting landscape, we are able to provide market participants with a one stop shop for their regulatory reporting needs” said Emelie Jacobsson, Head of Regulatory Reporting, Nasdaq Broker Services. “MiFID II introduces extended reporting obligations for market participants, and with the ARM license, Nasdaq will now be able to provide support for clients in order for them to meet their European regulatory transaction reporting obligations in an efficient and accurate way.”

Compared to the existing requirements under MiFID I, which focuses on reporting cash equities transactions to local regulators, MiFID II expands the scope to several non-equity asset classes and significantly increases the amount of data that needs to be reported.

“Nasdaq’s ARM service will use TRACK, an existing, proven and reliable web GUI. The platform is a user friendly solution and will be fully integrated with the other Regulatory Reporting solutions which has been very appreciated by our existing clients. Testing facilities are already available including connections with the FSAs. The on-boarding process is underway, and so far we have seen a high demand for this service,” said Mattias Hammarqvist, CEO, Nasdaq Broker Services.

Under MiFID II, investment firms will have the option of reporting these transactions themselves, or using an ARM. Nasdaq offers an ARM service as part of its comprehensive Regulatory Reporting platform to its clients. Nasdaq’s ARM licence will allow Nasdaq to submit transaction reports on behalf of clients to all relevant regulators in Europe.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion.

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