A multilateral trading facility (MTF) in the Abu Dhabi Global Market (ADGM) answers to the Financial Services Regulatory Authority (FSRA) under two sets of rules. The Market Infrastructure Rules (MIR) 3.6.7 name the details of each trade that the venue makes public and gives to the regulator. Section 149 of the Financial Services and Markets Regulations (FSMR) obliges the venue to report its orders and transactions to the FSRA. The venue matched trades report has a column for every MIR 3.6.7 detail. Two draft reporting obligations generate the s.149 files in a provisional layout, because the FSRA has published no specification for them. The platform generates the files. The MTF operator uploads each one to the FSRA, records the FSRA's acknowledgement on the filing, and stays responsible for meeting both rules.
Post-trade fields under MIR 3.6.7
The venue matched trades report holds one row for each trade matched on the reference day, including a trade later undone at delivery. MIR 3.6.7 names seven details, and MIR 3.6.2 adds three indications. Each one has a column in the report.
The columns priceTick and quantity hold the venue's own integer price step and base-unit quantity.
The venue orders report carries the same instrument and price columns for each order: instrumentId, instrumentIdType, unitPrice (the limit price, empty for a market order), priceCurrency, unitQuantity, filledUnitQuantity, remainingUnitQuantity and venue.
The FSMR s.149 order and transaction reports
The platform catalogue holds two draft obligations under the regime “FSRA order and transaction reporting (FSMR s.149)”. Each organisation receives its own draft copy of both, as it does for every catalogue entry. Review the copy, set the values that name your venue, and publish it from Obligations.
Both share one schedule and one completion rule:
- Cadence. Daily. The platform generates the filing once the reference day closes on the obligation's calendar, and lists rows only when a venue session closed that day.
- Deadline. The draft sets one business day on the ADGM calendar after the reference day, by 23:59 Asia/Dubai. This is a setting on the obligation, not an FSRA rule.
- Ending. The filing ends when a user records the FSRA's acknowledgement on it. A filing with no acknowledgement recorded within 24 hours of its recorded submission turns unacknowledged.
- Empty days. A day without a closed session still produces a filing, with no data rows. The obligation accepts it as a nil return.
- File. UTF-8 CSV with a header row, separated by commas, with no byte order mark and LF line endings.
- Filer. The “Reporting entity LEI” on the obligation, and the
SubmittingEntityIdcolumn, hold the MTF operator's LEI.
Transaction report columns
One row per matched trade of the reference day.
Order report columns
One row per order placed on the reference day, with its state at the end of that day. The report does not list each event in an order's life, as an RTS 24 record would.
What the provisional layout leaves out
RTS 22 and RTS 24 ask for fields the venue does not hold, and the provisional layout leaves them out: the buyer's and seller's LEI or national identifier, the decision maker, the trading capacity, short-selling and waiver indicators, and the client identification codes. The buyer, seller and member columns hold the participant's account on the venue instead.
Replace the provisional layout
When the FSRA confirms its specification, edit your copy of each obligation and publish the result as a new version. Filings already made keep the version they were made under.
- Change the columns, the file name and the CSV settings under “Custom file layout” in the obligation editor, or send the whole layout through
PUT /api/in the Platform API.v2/ reporting/ obligations/ {obligation Id} - Change the cadence and the deadline in the same draft.
- Publish the draft.
Rule references
- MIR 3.6.1 and 3.6.2, post-trade transparency, and MIR 3.6.7, the post-trade information table. COBS 8.2.1 applies them to an MTF operator.
- FSMR s.149(1) and (2), the duty to report orders and transactions, and s.149(5), the FSRA's power to make rules on content and manner.
- MiFIR RTS 22 (Commission Delegated Regulation (EU) 2017/590) and RTS 24 (Commission Delegated Regulation (EU) 2017/580), the models for the provisional layout.
Related concepts
- Reporting Obligation: how a published version freezes the layout, cadence and deadline of a filing.
- Trade reports: the per-trade reports a venue sends over a FIX session.