Thomson Reuters has enhanced its reference-data capabilities, available on its integrated data and analytics delivery platform, DataScope.
The firms says the platform will deliver key regulatory content and will link crucial information, such as reference data, corporate actions, entity data, end-of-day data and intraday data in an insightful and actionable way for customers to meet MiFID II requirements.
In order to be compliant with MiFID II requirements investment professionals will be required to have suitable risk models that safeguard against risk exposure. For the best value across the trading and investment cycle, market participants will also require a complete overview of the entire non-equity trading lifecycle. “The aggregation of market and reference data is central to ensuring this overview is possible,” says Thomson Reuters.
Given the new fixed income, currencies and commodities (FICC) requirements under MiFID II, many of the inter-dealer and dealer-to-client platforms will have to formalise their status, either as a Multilateral Trading Facility (MTF) or an Organized Trading Facility (OTF), and, as such, will have to publish trade data in a consistent manner. Thomson Reuters says its MiFID II capabilities will also include reference data on equities, warrants, options, futures, commodities, funds, government/corporate bonds, CMOs, municipals, and OTC derivatives.
“The challenge is clear, reference data has become a real focus point for the market and for our customers as they prepare to comply with MiFID II regulations coming into force on January 3, 2018,” says Stuart Martin, managing director, risk information and learning services at Thomson Reuters. “At Thomson Reuters we remain committed to providing transparent and efficient solutions that make a measurable difference in enabling our customers to meet growing regulations. Our DataScope MiFID II reference-data suite of solutions represents another step forward in delivering on our commitments.”
Will Jan, vice president and lead analyst at Outsell, adds, “The market fallout of ’08 has shown us the consequences of a lack of data transparency. As the primary interface among financial professionals, it is imperative that financial desktop providers lead the effort towards helping their clients meet MiFID II requirements. Their clients are not hoping for such compliance support, they’re expecting it.”