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

IHS Markit Offers Cloud Service for MiFID II RTS 28 Best Execution Compliance

Subscribe to our newsletter

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 in April 2018, three months after the initial MiFID II compliance deadline, and is likely to be challenging for firms with complex trading activities as they must create up to four documents for each of the 22 asset classes covered by the regulation, including equities and multiple types of debt instruments, OTC derivatives, structured products and emissions credits.

The IHS Markit solution is a cloud-based service that allows firms to outsource the processes required for compliance with RTS 28. The service uses a propriety calculation engine to categorise trades, tabulate data according to MiFID II and host required reports on a public website. It also offers detailed analytics on demand and through regular scheduled reports.

Commenting on the RTS 28 compliance service, Michael Aldridge, managing director of trading services at IHS Markit, says: “We’ve created the calculation engine and programmed the business logic into our system so that investment firms don’t have to spend time or resources aggregating and classifying trade data.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

From Pilots to Production: Capital Markets Firms Confront the Real Challenge of Scaling AI in Trading Workflows

Across capital markets, AI pilots are proliferating – on trading desks, in compliance functions, within data teams. The proof-of-concept phase has, for many firms, delivered enough evidence of value to settle the strategic debate. What remains stubbornly unresolved is the operational question: how to translate a growing patchwork of departmental experiments into scalable, production-grade capability....

EVENT

TradingTech Summit New York

Our TradingTech Summit in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

GDPR Handbook

The May 25, 2018 compliance deadline of General Data Protection Regulation (GDPR) is approaching fast, requiring financial institutions to understand what personal data they hold, why they process it, and whether it is shared with other organisations. In line with individuals’ rights under the regulation, they must also provide access to individuals’ personal data and...