A U.K. regulator, the Financial Conduct Authority (FCA), has settled a Markets in Financial Instruments Directive (MiFID) case against Goldman Sachs International (GSI), and has fined the firm £34,344,700 ($44,815,175) for 220-plus million erroneous transaction reports between November 2007 and March 2017. The FCA explains that its rules on transaction reporting emanate from the E.U.’s… Read More >>
Vendors Target Multiple Facets of MiFID II Compliance
Financial technology vendors are readying products to help global financial services firms prepare for the many facets of the Markets in Financial Instruments Directive and Regulation (MiFID II/MiFIR) legislation, which takes effect January 3, 2018. The offerings range from support for digitized pre- and post-trade processes to stress-tests for trading algorithms and execution processes. The new… Read More >>
MiFID II Challenges Hit the Buy Side Hardest
Although the financial services industry is counting down to MiFID II’s January 2018 deadline, the most profound impact will be on the buy-side community. They are not only preparing to conduct their own transaction reporting but they will also have to separate research from execution and become much more accountable for proving best execution across… Read More >>
ESMA Urges Action on MiFID II Data Reporting
The European Securities and Markets Authority (ESMA) has issued a briefing note on the transaction reporting requirements for the Markets in Financial Instruments Directive (MiFID II), which sets out a detailed timetable of the deadlines. The Briefing Paper refers to the technical requirements and templates for data reporting, which ESMA published in October 2016. The… Read More >>
ESMA’s Clarity Helps with Last MiFID II Hurdles
Although the Markets in Financial Instruments Directive II (MiFID II) has been delayed, the European Securities and Market Authority (ESMA) has been busy, recently publishing its “Q&As” as well as a 289-page accompanying guidance document for the new trading regime. This may be the last piece of the regulatory jigsaw but it is one of… Read More >>
Numerix Targets Basel III Capital Calculations
Numerix Expands Oneview Risk Application Numerix, a vendor of cross-asset analytics for derivatives valuations and risk management, has just released a solution that is an expansion of its Oneview Risk application to help banks comply with the Basel Committee’s regulatory requirement for Counterparty Credit Risk (SA-CCR) Capital in time for the January 2017 implementation deadline,… Read More >>
Firms Warned to Keep MiFID II Momentum Going Despite Delays
Market participants should use any delay in the implementation of the revised Markets in Financial Instruments Directive (MiFID II) to develop a more strategic approach to compliance with the regulatory reforms, say industry observers. Firms should keep up the momentum as it’s unclear whether politics will play in the industry’s favor and add more time… Read More >>
