NEX Group subsidiary , Abide LLC , has applied to become an approved reporting mechanism ( ABS ) and approved publication arrangement ( APA ) , before the new regulations MiFID II are set to take effect . Abide has provided reporting services for banks, brokerage houses, hedge funds and asset managers since 2011 and the application to become an ARM and APA was driven by client demand. It said it would become , following approval , one of the three largest ARMs by reporting volumes of MiFID II reportable data , and said the move was prompted by client demand .
NEX Group subsidiary , Abide LLC , has applied to become an approved reporting mechanism ( ABS ) and approved publication arrangement ( APA ) , before the new regulations MiFID II are set to take effect . It said it would become , following approval , one of the three largest ARMs by reporting volumes of MiFID II reportable data , and said the move was prompted by client demand .