Bloomberg, Trax, LSE Among First Approved as ARMs
Financial Conduct Authority has started issuing approvals to entities that applied to act as ARMs under Mifid II.
Trax, a subsidiary of MarketAxess Holdings, London Stock Exchange (LSE) and Bloomberg have announced that they have received FCA approval to operate as ARMs. All three companies have also been authorized to act as an Approved Publication Arrangement (APA), which is an entity permitted to publish post-trade transparency reports on behalf of investment firms to help them meet their reporting obligations under Mifid II. The regulator released the approved list of APAs in August.
An FCA spokesman
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