Key Takeaways
- DTCC has received FCA approval to operate as an Approved Reporting Mechanism (ARM) in the UK, with its EU ARM application pending, strengthening its role in supporting firms’ MiFID II transaction reporting needs.
- Launching in May, the MiFID ARM service is an end-to-end solution, that simplifies transaction reporting while offering the scale and reliability of a global infrastructure.
- By consolidating multiple reporting obligations—such as MiFID II, EMIR, and SFTR—with a single provider, firms will be able to reduce complexity and improve cross-jurisdictional oversight.
As regulatory requirements continue to evolve across global markets, firms are under growing pressure to meet increasingly complex transaction reporting obligations. In the United Kingdom and the European Union, MiFID II remains a cornerstone of transparency, and firms must ensure their reporting processes are accurate, timely, and compliant.
In December 2025, DTCC received FCA approval to provide Approved Reporting Mechanism (ARM) services in the UK. This designation allows DTCC’s UK ARM to submit UK MiFID II transaction reports on behalf of investment firms. DTCC’s application to provide ARM services in the EU is currently pending regulatory approval.
To explore how DTCC can help firms navigate this landscape, we spoke with Lavinia Ponniah, Product Management Executive Director at DTCC and a leader in regulatory reporting strategy. In this Q&A, Lavinia shares insights about DTCC’s role in the trade reporting ecosystem, the unique strengths of its UK MiFID Approved Reporting Mechanism (ARM) service, and why firms are turning to DTCC as a trusted partner in regulatory reporting.
DC: What is DTCC’s role in the global trade reporting ecosystem?
LP: DTCC plays a critical role in operating the post-trade infrastructure that underpins the global financial markets. For over 50 years, we’ve helped firms manage risk, increase transparency, and streamline operations. In the regulatory reporting space, we serve as a trusted partner to hundreds of firms navigating complex and evolving requirements.
But our role goes beyond just transmitting data. We help firms meet regulatory requirements, improve data quality, and reduce the risk of non-compliance. We advocate on behalf of the industry when further regulatory clarity is needed. Our clients rely on us not just for infrastructure, but for our insight.
DC: What makes DTCC’s MiFID ARM service stand out from other providers?
LP: Expected to launch in May 2026, DTCC’s MiFID ARM services will stand out by delivering a truly end-to-end solution that simplifies transaction reporting while offering the scale and reliability of a global infrastructure. We combine broad jurisdictional coverage with deep local expertise, allowing firms to meet their regulatory obligations through a harmonized platform without sacrificing compliance.
With DTCC’s MiFID ARM services, clients will have the flexibility to submit reports in various formats and channels. Once submitted, data will be validated in near-real time against both regulatory and proprietary rules, with exceptions easily managed and resubmitted through our Corrections Engine. DTCC’s Trade Reporting Analytics tool, currently offering peer benchmarking and data quality insights, will be extended to include MiFID data once DTCC’s ARM services are live.
Built on a resilient, cloud-native architecture, our trade reporting platforms have proven their scalability during major regulatory events, like recent rewrites and refits, and our ARM services will be positioned for integration with ISDA’s Common Domain Model (CDM) / Digital Regulatory Reporting (DRR) for MiFID transaction reporting. Clients may also benefit from a consistent user experience across jurisdictions, 24/6 support, client working groups for focused Q&A, onboarding assistance, and access to a comprehensive resource library through the DTCC Learning Center.
At the heart of it all, is our client-first approach: we work in close partnership with firms to ensure they can obtain maximum value from our platforms and stay ahead of evolving regulatory demands.
DC: How does DTCC help firms reduce the risk of non-compliance?
LP: Compliance isn’t just about submitting reports; it’s about submitting the right reports, at the right time, with the right data. That’s where DTCC can add real value.
DTCC’s MiFID ARM services are designed to help firms reduce the risk of non-compliance through a combination of automated validations, exception management tools, and comprehensive audit trails. Our platforms can perform pre-submission checks to catch errors early, minimizing the chance of regulatory rejections.
If issues do arise, clients will be able to quickly identify and resolve them using our intuitive exception management features. We will also provide real-time feedback with anomaly detection and proactive alerts, so firms can stay ahead of potential problems.
With DTCC, clients can benefit from a reporting infrastructure that’s continuously updated to reflect the latest regulatory guidance, giving them peace of mind that our solutions are current and compliant.
DC: How can DTCC’s ARM services alleviate the operational burden of trade reporting?
LP: DTCC’s ARM services are built to simplify and streamline the reporting process, delivering significant operational efficiencies. Clients will be able to submit data in standardized formats, reducing the need for manual intervention and minimizing the risk of errors. Our platforms provide real-time status updates and feedback, allowing firms to monitor the progress of their reports and address issues quickly.
By consolidating multiple reporting obligations—such as MiFID II, EMIR, and SFTR—with a single provider, firms will be able to reduce complexity and improve cross-jurisdictional oversight. The services will also be highly scalable, supporting firms of all sizes and adapting to changing volumes and regulatory requirements. Ultimately, DTCC can help clients to reduce operational burden, improve data quality, and lower the total cost of ownership.
DC: Why should firms consider switching to DTCC’s ARM services?
LP: The regulatory landscape isn’t getting any simpler. Even with the new rules on the horizon and increased regulatory scrutiny, firms need a reporting partner that offers more than just compliance, they need confidence.
DTCC’s ARM services will be backed by a proven track record of reliability and regulatory alignment. Our platform is designed to evolve with the market, supporting upcoming changes in the EU that may result from ESMA’s Call for Evidence consultation final report expected in 2026, as well as changes proposed in the UK FCA MiFID II Transaction Reporting consultation published at the end of 2025, with its final report expected in H2 2026.
DTCC will offer a compelling alternative for firms looking to consolidate providers, improve reporting accuracy, and reduce operational risk. We’re more than just a service provider; we act as a strategic partner, helping clients navigate regulatory complexity and insulating them from the cost of change so that they can reinvest resources where it matters most.