TRADEcho news and updates

  • 11/02/2019

In this newsletter, TRADEcho discusses the recent changes to the MiFID II Systematic Internaliser (SI) regime and looks at what information is available to firms ahead of Brexit. 

ESMA updates its Q&As on MiFID II and MiFIR market structure and transparency topics

  • 04/10/2018

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding market structures and transparency issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The new Q&As provide clarification on a range of topics, including: Classification of derivatives on derivatives for transparency purposes; Default liquidity status of bonds (amendment to an existing Q&A); and Scope of the pre-trade transparency waiver provided under Article 9(1)(c) of MiFIR.

ESMA sets out plan for Systematic Internaliser regime calculations and publications

  • 12/07/2018

The European Securities and Markets Authority (ESMA) has today published details of its action plan (within its updated Q&As on MiFID II and MiFIR transparency topics) for systematic internaliser (SI) regime calculations ahead of their publication on 1 August 2018. ESMA’s action plan focuses on equity, equity-like instruments and bonds while postponing the publication for derivatives and other instruments to 1 February 2019. 

FlexTrade Integrates The SmartStream Reference Data Utility for MiFID II Compliance

  • 10/07/2018

FlexTrade and The SmartStream Reference Data Utility (RDU) today announced the integration of the SmartStream RDU with the FlexTRADER EMS (execution management system). The integration offers mutual clients the ability to embed SmartStream RDU’s Systematic Internaliser (SI) Registry information directly into the send order ticket, providing much needed clarity on counterparty SI status, prior to key 2018 MiFID II milestone dates.

Nasdaq joins the Systematic Internaliser Registry Data Group

  • 13/06/2018

The SmartStream Reference Data Utility (RDU), today announced the joining of Nasdaq to the Systematic Internaliser (SI) Registry, which provides a hub for SIs to register financial instruments in a centralised database through their APA.