Recently, ESMA submitted its regulatory technical standards to the EU Commission, greatly reducing the market uncertainty that has been surrounding the introduction of MiFID II. This was the starting point for an even more active period of innovation and change, as players respond to the new rules and introduce new ways of dealing with them. For market practitioners, the message is clear: a flexible approach to market structure changes is required to minimize the risk in responding to the new European trading landscape and the unforeseen innovation that will accompany the adoption of the MiFID II.
This paper looks at which firms will be affected and how, and offers some guidance on meeting the technology and process requirements under the new market structure rules and definitions. It draws upon a survey of 11 electronic trading executives from Tier 1, Tier 2 and Tier 3 sell-side financial institutions across Europe conducted by A-Team.
Risk & Compliance The deadline for MIFID II compliance is less than six months away. Though the regulation is largely understood, firms anecdotally report that they expect to be ready with significant workarounds that will likely need to be revisited in the future to improve and streamline operations. More interestingly, firms are finding that the regulators’ intentions are […] August 15, 2017
Risk & Compliance Markets in Financial Instruments Directive II (MiFID II) and the Fundamental Review of the Trading Book (FRTB) require huge volumes of data to be sourced and managed. This webinar, organized by Intelligent Trading Technology in July 2017, discusses what sort of data analytics you need to implement to be able to process and analyse MiFID […] August 2, 2017
Risk & Compliance In this video series, Jim Northey, Senior Vice President Strategy and Research at Itiviti, tackles the implications of MiFID II for firms in terms of order routing, time synchronization and Best Execution. In the second segment, he also explores the impact that MiFID II and the Consolidated Audit Trail are likely to have in the […] July 25, 2017
Risk & Compliance Jim Northey explores the implications of MiFID II and the Consolidated Audit Trail (CAT) for US firms, and provides general advice on how to work towards MiFID II compliance in the run-up to the January 3rd, 2018 deadline. July 18, 2017