MiFID II Transaction Reporting: Market Convention & Best Practice
Key Takeaways
- This guide covers how market conventions support MiFID II reporting where regulatory guidance is not explicit.
- Highlights common data quality issues across key fields such as quantity, price, ISIN, LEI, and execution timestamps.
- Provides field-level best practices to improve reporting accuracy and consistency.
- Explains complex reporting scenarios including FX forwards and currency pair conventions.
- Designed for compliance and operations teams looking to strengthen controls, governance, and data quality.
Qomply’s MiFID II Transaction Reporting: Market Convention & Best Practice guide provides a practical overview of how firms can apply industry-standard conventions to meet their reporting obligations in the absence of prescriptive regulatory rules. It highlights the role of market conventions and best practices in ensuring consistency, accuracy, and compliance across transaction reporting.
The guide outlines common reporting pitfalls across key data fields, including quantity, price, instrument identifiers, counterparty data, venue, and execution timestamps, alongside clear best practice approaches to address them. It also explores more complex areas such as FX forwards, currency pair conventions, and correct price and quantity reporting across different asset classes.
In addition, it covers practical considerations around LEI validation, venue identification, and timestamp formatting, as well as broader governance best practices such as reconciliation, audit processes, and clear ownership of reporting responsibilities.
Designed for compliance and operations teams, this guide helps firms strengthen data quality, align with market standards, and improve the overall accuracy and integrity of MiFID II transaction reporting.
How Qomply can help
Qomply’s Regulatory Reporting Hub combines regulatory expertise with AI, automation and data analytics to deliver scalable, audit-ready reporting intelligence that reduces errors, lowers remediation costs, and minimises operational and regulatory risk.
Covering regimes including MiFIR, EMIR Refit, SFTR, CFTC, CSA, MAS, ASIC and HKMA, Qomply also offers a fully managed service and operates globally from London.
Purpose-built solutions and services for regulatory reporting
Designed to improve accuracy, reduce risk, and support confident transaction reporting.
