The MiFID II directive and the MiFIR regulation entered into force on 3 January 2018. The new rules apply to all firms providing investment services or activities. Transaction reporting in accordance with MiFID II/MiFIR occurs through the TRS 2 system that entered into operation on 3 January 2018. The system is open 24/7, except during service disruptions.
Investment firms executing a transaction with a financial instrument must submit details of the transaction to FI as quickly as possible – and no later than at the close of the following business day (Article 26 of MiFIR). This reporting obligation applies to significantly more instruments and trading venues than in the old MiFID regulation. NOTE: The old TRS system, which was used for reporting of transactions in financial instruments with a trading date up to and including 2 January 2018 in accordance with MiFID, has been closed.
Information published on this page will be related to reporting to the TRS 2 system's production environment. For information about test reporting to TRS 2, see Test reporting in the TRS2 system
In order to be able to report transactions in accordance with MiFID II and MiFIR, both the submitting entity and legal entities on whose behalf a transaction has been executed must have an LEI code.
In order to access the TRS 2 system's production environment, firms must send an authorisation application form to FI. Instructions for how to fill in the form are available below for each type of form. To speed up the handling process, scan the completed application form and email it to firstname.lastname@example.org. Then send the original to Finansinspektionen, Box 7821, 103 97 Stockholm Sweden.
The following form should only be used by firms intending to file transaction reports in the TRS 2 system directly from their own IT systems. If the transaction reporting will be filed by an approved reporting mechanism (ARM), an authorisation application form does not need to be sent to FI. It is the ARM reporting on behalf of the firm that must apply to open an account.
Approved reporting mechanisms (ARM) intending to report on behalf of one or multiple firms subject to the reporting obligation should use the following form to apply to open an account:
Operators of trading venues that are subject to the reporting obligation in accordance with Article 26(5) of MiFIR should use the following form to apply to open an account:
Authorisation Application TRS2 Reporting, Operators of trading venues subject to file reports under Article 26(5) of MiFIR (Only available in Swedish at present as "Behörighetsanmälan TRS2-rapportering, marknadsoperatör rapporteringsskyldig enligt art.26.5 i Mifir")
FI sends log-in information by certified mail to the contact person specified in the authorisation application. The letter also contains additional information needed to connect to the TRS 2 system.
It is only possible to connect to the TRS 2 system using an FTP client that supports SFTP. NOTE: There is no online interface for reporting transactions in accordance with MiFID II/MiFIR.
FI sends a letter with the IP address to connect to the system and log-in information to Submitting Entities. See Log-in information. Go to Port 22.
By connecting to Port 22, FI's server automatically encrypts the connection using a pre-installed certificate. When connecting, a window pops up asking if you trust the host key at FI. Click OK to accept the key and encrypt the channel.
The letter containing the log-in information also contains information about the folder structure on FI's SFTP server. Transaction files (TR files) to be sent to FI are placed in the Outgoing folder. Feedback files (FF and FD files) are downloaded from the Incoming folder.
Reports of transactions in financial instruments in accordance with MiFID II/MiFIR are filed in accordance with the technical specifications from the European Securities and Markets Authority (ESMA).
The information that must be filed in transaction reports (i.e. how the fields should be filled in) is described in Annex 1, Table 2.
FI occasionally needs to close the TRS 2 system for maintenance or to rectify problems or other disruptions.
Planned service disruptions occur
When the TRS 2 system is closed, it is not possible to report transactions via the system. Persons responsible for reporting must ensure that the information is stored during the service disruption and submitted as soon as the TRS 2 system opens again.
During service disruptions, it is particularly important for persons responsible for reporting to ensure that all information has been reported.
Report problems with the TRS 2 system to email@example.com.
Subscribe to updates related to reporting to FI. Check the box for "Reporting" under "Subscribe to fi.se" on the Subscribe page.
The TRS 2 system uses reference data from ESMA.