WealthKernel’s transaction reporting solution feeds directly into the FCA’s portal and eliminates the need for our Tenants / Clients to have an external reporting mechanism. Our reporting solution requires no additional build and can help you significantly reduce costs and stay compliant with MiFIDII regulations.
Investment firms are required to report transactions conducted on their platform to the regulatory authority. The reports usually contain detailed information about the types of instruments traded, the buyer and seller of the instruments and the cost and consideration of the trades.
WealthKernel is integrated directly with the FCA’s MDP (Market Data Processor) portal and performs transaction reporting for all securities executed on our platform. Our tenants can enter into a transmission agreement with us, allowing WealthKernel to report transactions on their behalf at no cost, reducing the need for a separate integration and cutting other costs associated with choosing an ARM (Approved Reporting Mechanism).
WealthKernel uses the MDP portal for its own transaction reporting and extends the same service for no cost and no additional build to its tenants for any trades executed through our platform. While the ARM portal, such as Unavista, offers a wider range of solutions, they generally charge a set fee per trade, which can make it time-consuming and costly. In some cases (for example - fractional trading), the cost of reporting is often higher than the trade itself, and our solution helps cut down costs for tenants.
Some investment infrastructure companies already do transaction reporting for their tenants, but US companies are not required to report their transactions to the regulator in the UK, so they don’t offer the service.
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