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NorthRow Joins FCA Regulatory Sandbox

Regtech and compliance specialist NorthRow has been selected to join the fourth cohort of the Financial Conduct Authority (FCA)’s Regulatory Sandbox, an initiative launched in 2015 to provide a channel for businesses to test products and services in a controlled and customised live market environment. NorthRow (formerly Contego) delivers customer onboarding through a combination of…

Interxion Unveils New LON-3 Data Centre

Colocation data centre service provider Interxion this week announced the planned October launch of LON-3, the latest addition to its central London campus, with an event at London’s City Hall on July 11. Interxion’s Brick Lane data centre is already home to a number of electronic execution venues, including Instinet’s BlockMatch, the London Metal Exchange’s…

ESMA Delays SI Implementation for Derivatives by Six Months

ESMA has pushed back the systematic internaliser (SI) implementation dates for derivatives by six months due to concerns over a lack of data completeness among market participants. The delay – to March 1, 2019 – mirrors the earlier treatment of MiFID II derivatives rules on open access, which were deferred from January 2018 to January…

Stephan Wolf Discusses this Week’s MiFID II LEI Mandate and Emerging Digital Certificates

The MiFID II mandate requiring the use of Legal Entity Identifiers (LEIs) to identify parties to financial transactions came into play on Monday, causing barely a ripple in trading markets, but still posing problems in terms of lapsed LEIs – a problem that Stephan Wolf, CEO of the Global LEI Foundation (GLEIF), suggests could be…

Intelligent Trading Summit Tracks Developments in Best Execution

Best execution, smart order routing and finding liquidity were under the spotlight during a panel session at A-Team Group’s recent Intelligent Trading Summit in New York City. So too, was the SEC’s ‘maker taker’ pilot designed to generate data that will provide the Commission and market participants with information to facilitate an informed, data driven discussion about…

It’s Official – No Further Delays in the Use of LEIs Under MiFID II

The European Securities and Markets Authority (ESMA) confirmed today that the six-month delay to the mandate requiring the use of Legal Entity Identifiers (LEIs) for all issuers and counterparties to transactions under MiFID II will not be extended. The initial delay from January 3, 2018, when MiFID II came into play, to July 3, 2018…

MiFID II handbook, third edition – How compliant are you?

Six months after Markets in Financial Instruments Directive II (MiFID II) went live, how compliant is your organisation? If you took a tactical approach to cross the compliance line on January 3, 2018, how are you reviewing and renewing systems to take a more strategic approach and what are the business benefits of doing so?…

FCA Reiterates Need for LEIs in Run Up to July 3 Deadline

The UK regulator has reminded firms and counterparties within the scope of MiFID II to ensure they meet the regulation’s Legal Entity Identifier (LEI) requirement before the extended deadline of July 3, 2018. “After July 3 firms will be required to gather (and be in a position to report) their clients’ LEIs before they trade…

AML – More Focus in 2018 for the FCA and Firms

By Philip Naughton, Head of UK Compliance, Cordium The regulatory landscape for anti-money laundering (AML) is continuing to evolve, and for financial institutions struggling under an increasingly heavy regulatory burden, we at Data Management Review felt that this article from financial services tech consultancy Cordium was of particular interest in highlighting the upcoming AML upgrades…

Derivatives Service Bureau Names Members of Technology Advisory Committee

The Association of National Numbering Agencies’ (ANNA) Derivatives Service Bureau (DSB) has named members of its newly formed Technology Advisory Committee (TAC). The TAC has been set up to provide guidance and recommendations to the DSB Board on technology implementation and investment to support the DSB role as a critical market infrastructure providing International Securities…