Today Nasdaq (Nasdaq:NDAQ) Nordic announced that it has been approved as an Approved Publication Arrangement (APA) by Finansinspektionen, the Swedish Financial Supervisory Authority (FSA). The license, within Nasdaq Stockholm, is a requirement in order to publish trades executed OTC, outside a regulated trading venue, on behalf of all European investment firms.
New MiFID II regulations introduce a requirement for investment firms to publish all OTC trades in financial instruments. Nasdaq’s APA service will allow customers to report all trades covered by the requirement, including those listed on non-Nasdaq venues.
Having Approved Publication Arrangement moving forward is important for us and our clients as we look to meet the new MiFID requirements,” said Fredrik Ekström, VP and head of Nordic Fixed Income at Nasdaq. “We plan to implement APA across all Nordic exchanges in order to provide a one-stop shop for all trade publication needs.
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.
Last month, Nasdaq announced that it has become the first firm in Sweden to receive an ARM license from the same regulatory authority.