NEX Optimisation Expands Harmony for MiFID II Compliance

NEX Optimisation has enhanced its existing messaging
services to help clients prepare for the introduction of MiFID II on 3 January
2018.

The firm says it has extended Traiana’s Harmony messaging
network to enable participants to exchange additional information to assist
with meeting a number of regulatory obligations under MiFID II.

This includes support for data elements associated with
transparency, transaction reporting, venue execution, instrument and entity
identifiers, timestamps, OTC post-trade indicators and unbundling of research
and execution fees.

Nex says the enhancements follow “a comprehensive review of
the regulation in consultation with investment firms and industry working
groups, to ensure that all information associated with the above obligations is
supported”.

The MiFID II enhancement is being implemented across all
asset classes supported by the Harmony network for bi-lateral, tri-party and
cleared trading paradigms. Field reference guides are already available to market
participants.

“It’s clear from the level of interest and participation
from existing clients that the Harmony network is key to helping firms satisfy
a number of their regulatory requirements,” says Steve French, head of
connectivity and messaging, Nex Optimisation.

Colin_lambert@profit-loss.com

Twitter @lamboPnL

Twitter @Profit_and_Loss

Colin Lambert

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