The Financial Conduct Authority (FCA) is tasked with identifying market abuse and fraud in financial markets. Transaction reporting is used to conduct supervision of trading in financial instruments to support the work of regulatory bodies such as the bank of England.
Clear and accurate data is at the heart of FCA transaction reporting. In order for the FCA and other bodies to effectively monitor potential market abuse they need to receive complete and accurate details of all trades in financial instruments. This includes when they were trade, how they were traded and by whom. Each transaction report item must include details of the financial instrument traded, the firm making the trade, the buyer or seller of the instrument and the date and time that the trade was executed. Transaction reports are regularly monitored for the quality of data reported: mistakes or omissions can lead to fines and other sanctions.
admin