Unlock deeper insights and stronger compliance
Stay ahead of regulation with the enhanced Surveillance File, the next evolution of the MAR file. It delivers deeper insights, broader data coverage, and built-in support for MiFID II and REMIT II compliance.
By upgrading, you’ll gain faster investigation capabilities and stronger monitoring, all at no additional cost.
Benefits
The Daily Market Activity and Surveillance Files are licensed for the purpose of fulfilling the requirements of Market Abuse Regulation (MAR).
Both contain a daily summary of all market activity on clients permissioned trading venues, delivered in csv format via a secure FTP site each morning.
Both files are available for download, allowing clients to choose to upgrade at their own convenience.
Read more in our Daily Market Activity and Surveillance File Guide
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What is the purpose of the MAR files?
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The MAR files are licensed to help you meet your regulatory reporting and monitoring requirements under the Market Abuse Regulation (MAR). They provide detailed daily trading data so your compliance and surveillance teams can effectively monitor for potential market abuse.
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What’s new in the Surveillance file?
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The Surveillance File is the advanced successor to the MAR file. It provides a more complete, data-rich view of your trading activity, enabling faster investigations and stronger compliance.
Key improvements include:
- More Data: All existing MAR fields plus additional details for deeper analysis.
- MiFID II Data: Includes fields such as the execution decision-maker ID, linking each trade to the specific trader or algorithm responsible.
- Account Visibility: Each order and trade now contains account details, allowing for clearer pattern recognition.
- Enhanced Reference Data: New contextual fields like currency and tick size improve cross-market analysis and help identify behaviours such as spoofing or layering.
- Future-Ready Compliance: Built to meet the evolving demands of regulations such as REMIT II and MiFID II.
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What’s the difference between the Daily Market Activity File and the Surveillance File?
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Daily Market Activity File provides essential fields required to MAR requirements.
Surveillance File includes everything from the MAR file, in addition to optional groups of data fields for deeper analysis:
- Additional trade and order fields
- Reference data fields
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Why should I upgrade to the Surveillance File?
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Upgrading ensures your organisation has access to the most comprehensive and compliant dataset available.
With evolving regulations and expanded monitoring requirements, the Surveillance File offers better visibility, faster detection of suspicious activity, and stronger overall compliance capabilities.
Upgrading from the MAR file to the new Surveillance File is free of charge.
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Do I need to stop using the MAR File?
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The legacy MAR file will remain available, but Trayport recommends moving to the Surveillance File as the new standard for robust, future-proof compliance.
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How can I upgrade?
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The Surveillance file is available alongside the MAR file in the client’s SFTP folder. For further information, please contact your Client Manager.
You can upgrade from the MAR file to the new Surveillance file at no additional cost. We strongly encourage you to make the switch to ensure your team has the most comprehensive data available to meet regulatory demands like REMIT II.