Regulatory

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Change challenges faced by the financial services regulatory environment are presenting themselves through a combination political desire to reform the industry, significant ambiguity in terms of the potential outcomes of reforms, unprecedented number of regulatory reforms and lack of international regulatory convergence.

Our clients are facing many issues because these regulatory changes range from dealing with the high financial overheads to coping with the implementation on a global level.

We assist clients face financial regulation by adopting a methodology which is both holistic and streamlined. This approach concentrates regulatory compliance onto an amalgamated central Regulatory Reporting hub which enables buy and sell-side clients, corporates, multi-trading facilities and OTF’s to meet their regulatory obligations and effectively report to NCA’s multiple regulations.

COVERAGE – MFID II, EMIR

SERVICES – Trade and Transaction Reporting, SI.

NCA REPORTING – FCA, AMF

DATA PUBLICATION – Data Feeds, Vendor Network

MiFID II - Transaction Reporting

Collect REF data > Validate > Enrich, Reproduce Records, Transmit report to NCA’s, Reconcile.

Key benefits

Reporting integration in value chain
Enhanced compliance in alignment with frequent regulatory changes
Big data processing

MiFID II - OTC Trade Reporting

OTC post-trade transparency for equities and non-equity instruments

Key benefits

Fulfilment of OTC post-trade transparency requirements according to MiFID II with minimal expense
Quality assurance and publication of trade data in real-time or deferred where applicable
Broad dissemination of data to information providers
The service is based on extensive experience in fulfilling MiFID I transparency requirements
The new Markets in Financial Instruments Directive (MiFID II) which comes into effect at the beginning of 2017 will introduce significant changes to the pre- and post-trade transparency regime for EU financial markets. In particular, transparency requirements will cover shares, depositary receipts, ETFs, certificates, bonds, structured finance products, emission allowances and derivatives.

Our service

Coverage of MiFID II relevant instruments traded across the European Economic Area
Deferred publication of large transactions in accordance with MiFID II
Quality check of imported trade data
Questionable transactions are highlighted and sent back for verification
End-of-day compliance reporting

MiFID II SI service

Full service for systematic internalisers

Key benefits

One-stop full service that complements our other MiFID II related regulatory services (APA and ARM)
The SI service covers pre-trade reporting, quality of order execution and post-trade reporting requirements
MiFID II introduces new requirements for systematic internalisers (SI) that deal on own account on an organised, frequent, systematic and substantial basis outside a trading venue, when executing client orders. In addition, the SI regime is extended to all asset classes.

Our service

SI identification (MiFID II Art. 4 and Delegated Act as of 25 April 2016)
Pre-trade reporting (MiFIR Art. 14)
Quote and trade matching (MiFIR Art. 15)
Best execution reporting (RTS 27 of MiFID II)
Reference data reporting (MiFIR Art. 27)