KUALA LUMPUR, Sept 8 -- SmartStream Technologies, the financial Reference Data Utility (RDU) solutions provider, has announced derivatives supported in its Systematic Internaliser (SI) Registry service, to help clients meet the Markets in Financial Instruments Directive II (MiFID II) deadline on Sept 15.
This allows trading counterparties to identify whoever is responsible for reporting trades in general, but also the most complex part of the SI Regime which now includes derivatives.
According to a statement, financial institutions are highly reliant on good quality reference data to ensure they can successfully trade electronically, automate their operations and report accurately to the regulators.
The MiFID II SI Regime for derivatives will be the most challenging component needing to handle a very complex classification scheme.
The service further strengthens SmartStream’s partnership with the Approved Publication Arrangements community as the RDU continues being the sole distributor of the SI Registry, which provides SI status across equity, fixed income and derivative instruments.
SmartStream RDU Executive Vice-President, Linda Coffman said: “The derivatives component represents the last phase of the MiFID II SI Regime to be rolled out by the SmartStream RDU development team.”
To meet the September deadline, firms will have to handle a complex ESMA classification scheme in order to be compliant.
-- BERNAMA
No comments:
Post a Comment