Securities Finance Industry News | Reporting entities launch the APARMA association

Six of the sector’s leading institutions have launched the Approved Publication Arrangements (APAs) and Approved Reporting Mechanisms (ARMs) association, more commonly known as APARMA.

Created by affiliates of Bloomberg, Cboe Europe, Euronext, London Stock Exchange, MarketAxess and Tradeweb Markets, the association represents the interests of companies operating APAs and ARMs in the EU and UK.

Established under the Second Markets in Financial Instruments Directive (MiFID II), APAs publish post-trade transparency reports on financial instruments that have been traded off-platform, while ARMs disclose trade details to regulators on behalf of investment firms.

The association will represent the views of its members with respect to regulations and laws impacting ABS and ARM activities and the associated oversight framework and foster dialogue with policy makers and regulators.

With the rules governing trade and transaction reporting under frequent review and scrutiny, the association will also focus on developing and supporting the adoption of best practices with the common goal of improve the quality of industry data, transparency and auditability of transactions in the EU and the UK. .

As the laws for both financial markets continue to develop post-Brexit, it is increasingly important to link the dialogue between regulators and policymakers to facilitate common solutions for global market participants accessing both. markets, said the first members of the association.

Membership of APARMA will be open to all market participants who meet the established eligibility criteria.

The activities of the association will be governed by the members of the executive committee of APARMA, who are elected by the general membership and are responsible for the executive management of the association.

Chris Smith, Head of Post-Trade Services at MarketAxess and First President of APARMA, said: “It is important that the voices of APA and ARM operators – whose activities are critical to achieving policy goals – are heard. APARMA will ensure exactly that. We are excited to have a new forum where we can better engage with industry, share best practices, and collectively improve the quality of our data and data services.

David Bullen, Secretary General of APARMA, adds: “I look forward to representing the views and interests of current and new members of APARMA, each of whom operate and manage a significant part of the infrastructure financial markets and who, to date, have been underrepresented in important industry and regulatory circles.

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