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

Towards Sustainable MiFID II Compliance

Subscribe to our newsletter

With MiFID II nine months into implementation since go live in Janaury 2018 and the systematic internaliser (SI) regime having become mandatory for all firms within its scope in early September, a panel of regulatory experts at A-Team Group’s recent RegTech Summit in London reviewed how the regulation is playing out and discussed how to achieve sustainable compliance.

The panel was moderated by Gouri Khatua, regulatory consultant at Grant Thornton. Panel members included Nicholas Philpott, head of market structure at Standard Chartered Bank; Martijn Groot, vice president of product management at Asset Control; Peter Moss, CEO at the SmartStream RDU; and Malavika Solanki, member of the management team at the Derivatives Service Bureau.

The conversation started with a review of the SI regime and the role of regtech in helping firms decide whether to be SIs in particular securities, and if they are or become SIs, operate effectively and efficiently. Talking more broadly about MiFID II, the panel noted ongoing reference data challenges in providing pre- and post-trade transparency, and in meeting the data management requirements of best execution reporting.

On a more positive note, panel members remarked on how firms that are MiFID II compliant are beginning to look at opportunities to exploit data gathered to generate value for the business, and how they have used implementation to make internal improvements, such as applying common standards across global locations, which has proved particularly beneficial in achieving the requirements of best execution under MiFID II.

At an industry level, the panel said MiFID II has driven more structure into the market, presented potential for greater harmonisation of regulations across Europe and the US, and indicated how the future of regulation may play out, with firms sending well-structured and complete data to regulators and regulators making better use of the data.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: FRTB Implementation in APAC: An industry update and what is left to do

Date: 25 May 2023 Time: 9:00am London / 4:00pm Singapore Duration: 50 minutes Fundamental Review of the Trading Book (FRTB) regulation, a set of proposals from the Basel Committee on Banking Supervision (BCBS) for a new market risk-related capital requirement for banks, is due to be implemented across APAC over the next few years. Singapore...

BLOG

Alveo Sets Sights on Accelerating Market Data Migration to Cloud and Improving Business User Access to Data

Alveo has set out its next stage strategy with a focus on two key themes – accelerating client migration of market data to cloud, and building out its self-service data provision for business users. Also on the agenda are ESG data management, industry partnerships, and development of AI tools. To find out more about the...

EVENT

RegTech Summit APAC

Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...