MiFID II – Day 1
At last, and after years of preparation, Markets in Financial Instruments Directive II (MiFID II) has gone live – but not quite as expected, with both the UK Financial Conduct Authority (FCA) and the German regulator, BaFin, granting Europe’s largest futures exchanges an extra 30 months to comply with the directive’s rules on trading and...
IHS Markit Prepares SI Register to Support MiFID II Reporting
IHS Markit is preparing a registry of systematic internalisers (SIs) to help market participants comply with Markets in Financial Instruments Directive II (MiFID II) trade reporting obligations. The SI list will go live at the end of November on Markit’s Counterparty Manager web portal and will detail SIs operating across European Securities and Markets Authority...
QuantHouse Makes Trading Technologies Available to Virtu Financial SI Platform
QuantHouse has made its QuantFEED and QuantLINK trading infrastructure technologies available to Virtu Financial’s disclosed systematic internaliser (SI) platform, allowing the Virtu SI to provide firm quotes efficiently and transparently to a wide range of market participants. Virtu Financial is an electronic market maker providing liquidity to the global equity, exchange traded fund, energy, and...
FIX Trading Community Releases Final Guidance on Best Execution Reporting
The FIX Trading Community has issued the final release of its Recommended Practices for Best Execution Reporting as required under Markets in Financial Instruments Directive II (MiFID II) Regulatory Technical Standards (RTS) 27 and 28. The document provides guidance on how to populate reports required under RTS 27 and 28 with appropriate data in a...
Charles River Teams with TRADEcho on MiFID II Trade Reporting Solution
Charles River Development has partnered TRADEcho to deliver an automated trade reporting solution for Markets in Financial Instruments Directive II (MiFID II). The partnership allows firms using the Charles River investment management solution (IMS) to use TRADEcho as an Approved Publication Arrangement (APA) to report trades to the public and to access TRADEcho’s Smart Report...
IHS Markit Offers Cloud Service for MiFID II RTS 28 Best Execution Compliance
By Laura Burgess IHS Markit has introduced a service designed to help firms within the scope of Markets in Financial Instruments Directive II (MiFID II) comply with RTS 28, an element of the regulation’s best execution requirements that mandates firms to publicly report their top five trading venues by asset class. RTS 28 takes effect...
With MiFID II Unbundling Looming, Commcise and TR Roll Out Research Capabilities
Amid media reports that sell-side firms are struggling to settle on commercial arrangements for subscriptions to their unbundled research services post-MiFID II, service providers are starting to roll out solutions aimed at helping buy-side firms receive, manage and pay for research under the new arrangements. MiFID II will require buy-side firms to justify how they...
AIMA Offers Guidance to Best Execution Under MiFID II
For hedge funds and other investment managers with a thirst for information on how best execution will change under MiFID II, the Alternative Investment Management Association (AIMA) has just released its MiFID2 Best Execution Guide. Best Execution under MiFID II differs from its predecessor’s provisions in two main ways. First, MiFID II requires investment firms...
How Trading Operations Changes Both Cut and Inflate Costs
Even as fixed-income trading operations technology makes up its lag behind equities trading technology, the overall costs in trading operations are likely to increase, causing investment firms to have to pay more, according to panelists who will be considering “Trading in the new normal environment” at the Intelligent Trading Summit in New York on June...
Blockchain Venture Attracts Firms With Customization
The CME Group and blockchain technology provider AlphaPoint, in collaboration with the UK’s Royal Mint, have launched a digital gold trading product that aims to bring more financial institutions into gold trading and allow its users some open source parts on which they can build customized functions. Royal Mint Gold (RMG), the digital gold trading...