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.
Execution This is the second part in a series that explores the past, present and future of Order Management Systems (OMS) and the closely related Execution Management Systems (EMS). We cover these trading tools mainly from a sell-side perspective. As financial markets change, new demands on trading technology appear. This includes the functional requirements of the […] February 27, 2018
Risk & Compliance Jim Northey, Senior Vice President Strategy and Research at Itiviti, explores the topic of regulation in a post-globalization environment. In the wake of Brexit and the US election, are we moving away from unified regulatory equivalence to regulatory arbitrage, with single countries taking advantage of regulatory changes to attract market share? February 5, 2018
Execution What sets Itiviti solutions and technology apart from the rest? Itiviti staff explain in their own words. Go to Itiviti solutions January 9, 2018
Risk & Compliance Johannes Frey-Skött, VP Apps Engineering at Itiviti, discusses the data collection and retention challenges presented by MiFID II and tackled by Itiviti Analyst – winner of “Best New Technology Product – Regulatory Reporting” at the FOW International Awards 2017.* MiFID II has far-reaching and multi-faceted implications for European market participants, but if one were to […] December 21, 2017