Tag: Mifid Ii

Mifid Ii

Schroders Selects SteelEye

Investment manager Schroders has selected compliance technology provider SteelEye to provide it will full visibility of its MiFID II transaction reporting workflow, including tools that help manage over or under-reporting as well as data validation errors. The system provides MiFIR eligibility checks; analytics on rejection handling from both the Approved Reporting Mechanism (ARM) and National […]

SmartStream Adds Derivatives to MiFID Solution

Reference data utility (RDU) solutions provider SmartStream Technologies has added support for derivatives in its Systematic Internaliser (SI) registry service to help clients meet the Markets in Financial Instruments Directive II (MiFID II) deadline of September 15, 2020. This allows trading counterparties to identify who is responsible for reporting trades in general, but also the most […]

AccessFintech and Cappitech Expand Partnership

AccessFintech and Cappitech have announced they will collaborate to deliver greater governance and risk controls for market participants by providing their combined solution to clients across the financial ecosystem. The new collaboration is an extension of the firms’ existing partnership announced in late 2017 to deliver MiFID II solutions to the market. The enhanced services […]

Battle Lines Drawn

Looking at the geographical distribution of OTC FX turnover, Galen Stops sees some areas of competition emerging amongst different trading centres, but argues that it will be a long time before we see the outcome of any moves being made now. It will have come as no surprise that the data from the Bank for […]

And Another Thing…

I read this week that UBS’ compliance head Markus Ronner believes that while they will inevitably remain high, compliance costs for the banking industry have peaked. There are undoubtedly a host of financial markets’ participants out there who fervently hope he is right, actually if it comes down to it, I hope he’s right! The […]

Cappitech Rolls Out RTS 28 Intelligence Tool

Cappitech has announced the launch of RTS 28 Market Intelligence, a product that the firm claims allows financial institutions to use regulatory compliance data to their own advantage by assessing firms’ best execution capabilities across all asset classes and benchmarks performance to the industry average. The new product enables asset managers to optimise performance by […]

EVIA Provides Feedback to EU on MiFIR

The European Venues and Intermediaries Association (EVIA), formerly known as the Wholesale Markets’ Brokers Association (WMBA), has published its response to a call from Germany’s Finance Ministry for feedback on MiFID II and MiFIR one year on from their implementation. In the feedback, EVIA makes a number of points and stresses its belief that foreign exchange swaps should not be covered under the regulation. EVIA does note that whilst its feedback sets out some of the difficulties and remedies in response to the premise of the call for evidence, it states that MiFID2 delivered a “great many benefits”.

Currenex and FX Connect: An Aggressive Roadmap

2018 “began with a bang” for Currenex and FX Connect due to the implementation of MiFID II, according to David Newns, global head of Global Link Execution Services at State Street, which owns both platforms. He adds that a “not inconsiderable amount of blood, sweat and tears” went into ensuring that the two Multilateral Trading Facilities (MTFs) that it was required to launch were up and running ahead of the January 3 deadline, an experience that was shared by many market participants in Europe last year.

Currenex and FX Connect: An Aggressive Roadmap

2018 “began with a bang” for Currenex and FX Connect due to the implementation of MiFID II, according to David Newns, global head of Global Link Execution Services at State Street, which owns both platforms. He adds that a “not inconsiderable amount of blood, sweat and tears” went into ensuring that the two Multilateral Trading Facilities (MTFs) that it was required to launch were up and running ahead of the January 3 deadline, an experience that was shared by many market participants in Europe last year.

Bloomberg: Handling a Sea of Change

“The biggest driver for the industry last year was regulation. It created a sea of change in the way that markets actually behave,” says Tod Van Name, global head of FX electronic trading at Bloomberg. MiFID II was obviously the major piece of regulation driving this change in 2018, but although this regulation only applied to firms operating in Europe, Van Name says it caused a much broader push globally to raise market transparency, track trade details, and justify all of the decisions made around trade execution. While it represented a big lift for many multi-dealer platforms, this was especially acute for a firm like Bloomberg, which offers such a wide array of securities and instruments that trade across many asset classes and to a diverse range of client types.