About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

A Dive into the Detail of the Systematic Internaliser Regime Under MiFID II

Subscribe to our newsletter

The requirements of the systematic internaliser (SI) regime under Markets in Financial Instruments Directive II (MiFID II) became mandatory on September 1, 2018, meaning firms within the scope of the regulation must become SIs when they trade certain volumes in particular instruments, as set out by the European Securities and Markets Authority (ESMA). A month or so later, how is it all going, why do firms decide to become SIs, and what are their obligations and regulatory reporting challenges?

A keynote presentation by Peter Moss, CEO of the SmartStream Reference Data Utility (RDU), at A-Team Group’s recent RegTech Summit in London, answered these questions and more. Moss started by describing MiFID II as a ‘massive undertaking’ for all firms within its scope and noted its goal of market transparency and requirements to achieve that goal.

Focussing on the SI regime, Moss addressed the questions above and provided detail on how he expects the regime to develop, and numbers of SIs to grow, into next year; the data management issues presented by additional data generated by SIs and brought to market through Approved Publication Arrangements (APAs); and the opportunity for regtech providers to support compliance.

Listen to the podcast of Moss’s keynote presentation to find out more about the MiFID II SI regime and what SIs must do to comply.

AUDIO

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

4 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and...

BLOG

Experts Probe Data Management Best Practices for Regulatory Reporting: Webinar Preview

Compliance with regulators is getting harder for data professionals as economic volatility and geopolitical strains look set to reshape how global financial markets are overseen. As data professionals brace to take the brunt of the work needed to comply with these rapid and unpredictable changes, A-Team Group will host a webinar that will probe the...

EVENT

Data Licensing Forum 2025

The Data Licensing Forum will explore industry trends, themes and specific developments relating to licensing of financial market data from Exchanges and Data Vendors.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...