NEX Group subsidiary, Abide Financial, has applied to become an approved reporting mechanism (ARM) and approved publication arrangement (APA), before the new regulations MiFID II are set to take effect. The company is also seeking approval for a “non-compliant reporting” scheme that would allow it to report on its activities in countries outside of the UK without having to comply with any regulatory requirements.
NEX Group subsidiary, Abide Financial, has applied to become an approved reporting mechanism (ARM) and approved publication arrangement (APA), before the new regulations MiFID II are set to take effect. Abide said it would become, following approval, one of the three largest ARMs by processed volumes of MiFID II reportable transactions, and said the move was prompted by client demand.