What is the Systematic Internaliser Registry?

The SI Registry (SIR) Data Group was established in late 2017 to support the January 2018 implementation of MIFID II.  The SI Registry is a collaboration between the SmartStream RDU and a group of Approved Publication Arrangements (APAs). The initiative is open to all APAs (seven have collaborated so far) and all SIs.

The SIR Data Group has solved a common problem of SI data collection and dissemination allowing accurate post-trade reporting. The SIR allows SIs to register the details of the financial instruments and asset classes for which they are providing services, in a single centralized register.

The core principles of the SIR Data Group are to maximise completeness and accuracy of data, maximise operational efficiencies, minimise cost to those contributing and collecting data, be available to support the timing of the regulatory requirements of MIFID II and be a solution open to all other APAs and SIs across Europe on equivalent terms.

The SI Registry now offers a comprehensive and granular set of data across both equities and non-equities, providing much needed clarity to the market.  APAs can report reliably on behalf of their customers who trade report through them, SIs can advertise their services, trading counterparties can ensure that they trade report correctly and buy-side firms can reduce regulatory compliance costs by ensuring that selected brokers offer the appropriate SI services. 

 

Are you an SI that is not currently submitting your SI status to the SIR?

If so, please get in touch: contact@tradecho.com

 

Do you require SI Registry Data?

SI Registry data is available for subscription in two forms: daily updates from SIs or as an SI Registry Rest API Service.  SI Registry data is also available for redistribution by 3rd parties – please get in touch with the TRADEcho team for further information: contact@tradecho.com