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Trax Sees UK Approval For MiFID II Reporting As First Step In Europe
The UK Financial Conduct Authority’s (FCA) approval of the approved reporting mechanism (ARM) provided by market data, trade matching and regulatory reporting services company Trax is the first domino in a line that its makers hope will run through European countries by the time MiFID II takes effect in January. As an ARM, Trax has…
MiFID II Effects On Order Handling and Reporting Requirements Emerge
The specifics of MiFID II compliance have become clearer with new guidance from the European Securities and Markets Authority (ESMA), and increased understanding of best execution and transparency parts of the regulation among industry professionals. In ESMA’s recent question and answer statement on MiFID II, the authority specified what data must be published and reported…
The Latest PRIIPs RTS
By Ronan Brennan, chief technology officer, Silverfinch The European Commission has published what is hopefully the final iteration of the Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulatory Technical Standards (RTS), and with the European Parliament announcing that it has no objection to the new RTS, the industry has finally arrived at a point that…
Webinar Discusses Data Management Processes in Run up To MiFID II Compliance
The 3 January, 2018 compliance deadline for Markets in Financial Instruments Directive II (MiFID II) is approaching fast, so how ready are financial institutions to meet the directive’s requirements and what outstanding data management challenges do they face? A recent A-Team Group webinar answered these questions and more, highlighting the need to get cracking on…
Recorded Webinar: Putting data management processes in place for MiFID II
The January 2018 compliance deadline for Markets in Financial Instruments Directive II (MiFID II) is approaching fast, so how ready are financial institutions to meet the directive’s requirements, what data management processes should they be prioritising to ensure compliance, and what outstanding challenges do they face? Also, what do regulators expect firms to have in…
ANNA DSB Opens Test Platform for OTC ISINs and Outlines Further Plans
The Derivatives Service Bureau (DSB), a subsidiary of the Association of National Numbering Agencies (ANNA) designed to issue ISIN identifiers for OTC derivatives under Markets in Financial Instruments Directive II (MiFID II), has opened its user acceptance testing platform to the industry. The platform provides near real-time allocation of ISINs for OTC derivatives and generates…
Go West, Old Exchange!
Following the EU’s block of the London Stock Exchange merger with Deutsche Boerse, LSE could consider North American suitors with lower regulatory hurdles By: Jim Northey, Principal Services Consultant, Itiviti Coming as no surprise on the same day as the letter invoking Article 50 to separate the UK from the European Union, the EU on…
Project Sentinel Makes Headway on MiFID II Compliance
Project Sentinel, a consortium of banks working to mutualise the cost of implementing Markets in Financial Instruments Directive II (MiFID II) in the OTC front office, will pass a significant milestone on Monday 3 April when Adaptive, a software firm selected by Sentinel as a technology provider, will deliver the backbone of the Sentinel solution…
Firms Face Lack of Clarity on MiFID II Data Transparency Obligations
Meeting the data transparency obligations of Markets in Financial Instruments Directive II (MiFID II) continues to be a challenge for financial institutions struggling to manage the scale of change presented by the regulation, improve data quality to achieve transparency, and implement solutions without final clarity from the European Securities and Markets Authority (ESMA) on outstanding…
Challenges of MiFID II Reporting Leave Firms Unready for Compliance
Few financial institutions are ready to meet the requirements of transaction reporting under Markets in Financial Instruments Directive II (MiFID II), while many are facing ongoing challenges including understanding the regulatory requirement, sourcing required data and integrating standard data codes. The data management challenges of MiFID II transaction reporting, approaches to compliance, and the benefits…