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SmartStream RDU Fills MiFID II Gap with Systematic Internaliser Register
The SmartStream Reference Data Utility (RDU) is finalising a service – the Systematic Internaliser Register – that will allow systematic internalisers (SIs) within the scope of Markets in Financial Instruments Directive II (MiFID II) to publish financial instruments for which they will offer SI services and firms to identify whether counterparties are SIs and therefore…
US Reduces Settlement Timeframe from T+3 to T+2 Effective Immediately
The US T+2 Industry Steering Committee has achieved its objective of reducing settlement time to trade data plus two days (T+2) for securities including US equity, corporate and municipal bonds, and unit investment trust trades. The settlement cycle was last changed in 1995 from T+5 to T+3 and brings the US in line with the…
TS Adds QB’s Legger Algo to TradeSmart OEMS
The newly rebranded TradingScreen – now operating under the TS name – has expanded the range of third-party trading algorithms available through its TradeSmart order and execution management platform with the addition of Quantitative Brokers’ Legger premium multi-leg spread-trading algorithm. Legger is one of Quantitative Brokers’ suite of four premium futures and fixed income algorithms,…
The Data Science is The Easy Part!
Lessons learned from a recent business intelligence project By: Marc Alvarez One of the biggest motivations of working in a chief data officer (CDO) role is the opportunity to spend time and thought on applying state-of-the-art business intelligence (BI) to the firm’s own data. Unfortunately, given the pressing need to support regulatory reporting and simply…
Seizing the Opportunity: In Defence of MiFID II
By: Will Winzor-Saile, Execution Architect, Redburn There is no escaping MiFID II. As the regulation becomes clearer and industry consensus forms, every financial firm is working hard to be ready for January 3, 2018. Alongside implementation, myriad discussion papers address the challenges faced in the new world – where can we trade dark, how will…
MiFID II – Are we nearly there yet?
The Financial Conduct Authority’s (FCA) publication of its final policy statement on the implementation of Markets in Financial Instruments Directive II (MiFID II) early this week underlines the mantra of ensuring transparency around processes and the protection of client money. It clarifies issues around provisions including inducements in relation to research, best execution and taping,…
Listen to the Experts on MiFID II Research Unbundling
With just six months to go before the Markets in Financial Instruments Directive II (MiFID II) compliance deadline, many financial firms are struggling to pin down the research unbundling requirements of the regulation. Key challenges to implementation include measuring the value of research, establishing a pricing system and building a compliant solution. MiFID II research…
MiFID II Review Shows Slow Progress and Ongoing Reporting Challenges
With the compliance deadline for Markets in Financial Instruments Directive II (MiFID II) just six months away, we called on some industry experts to share their views on how implementation is going, the toughest challenges of the regulation, and which workflows need to be prioritised to hit the 3 January 2018 deadline date. Among the…
Metamako, MayStreet Take Steps For Time-Stamped Order Ledger
FPGA networking platform provider Metamako has added market access and data analytics provider MayStreet’s services to its network, which will make it possible to develop a time-stamped order ledger, according to Ciaran Kennedy, head of US operations at Metamako. “MayStreet’s ability to decode market orders, extract our time stamp and combine the two, would allow…
Get Ready for the Revolutionary Requirements of the CAT
The US Consolidated Audit Trail (CAT) is a broad, detailed and revolutionary regulation mandated by the Securities and Exchange Commission (SEC) and due to come into force in 2018. Its data requirement surpasses that of its predecessor, the Order Audit Trail System (OATS), and presents challenges around the reporting of correct customer and account data….