FlexTrade integreert het SmartStream-referentie data hulpprogramma voor MiFID II-naleving

LONDEN – (BUSINESS WIRE) –

De initiële uitrol omvat het gebruik van het register van beleggingsondernemingen met systematische interne afhandeling voor de workflow voor de naleving van handelswetgeving vóór de aankoop

FlexTrade (@FlexTrade) en The SmartStream Reference Data Utility (RDU) hebben vandaag de integratie van de SmartStream RDU met de FlexTRADER EMS (execution management system) aangekondigd. De integratie biedt wederzijdse cliënten de mogelijkheid om de informatie van het SmartStream RDU-register voor systeemgeoriënteerde interne afhandeling (SI) rechtstreeks in het verzendbonnetje te integreren, wat de broodnodige duidelijkheid biedt over de SI-status van de tegenpartij, vóór de belangrijke 2018 MiFID II-mijlpalen.

Het SI-register vult een leemte in de MiFID II-meldingsregeling aan, die vereist dat deelnemers uit de sector vaststellen of tegenpartijen SI’s zijn voor het financiële instrument dat zij verhandelen, zodat zij kunnen bepalen welke tegenpartij de transactie moet melden. Het MiFID II-kader voorziet echter niet in een mechanisme om de SI-status te bepalen. Het probleem is met name acuut voor vermogensbeheerders en hedgefondsen, die niet de infrastructuur hebben opgebouwd die nodig is om de rapportage te ondersteunen en voor deze functies afhankelijk zijn van hun SI-tegenpartijen.

FlexTrade Integrates The SmartStream Reference Data Utility for MiFID II Compliance

LONDON–(BUSINESS WIRE)–

Initial rollout covers use of Systematic Internaliser Registry for buy-side pre-trade compliance workflow

FlexTrade (@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.

The SI Registry fills a gap in the MiFID II reporting regime, which requires that industry participants identify whether trading counterparties are SIs for the financial instrument that they are trading, so that they can determine which counterparty must report the trade. However, no mechanism is provided in the MiFID II framework to determine SI status. The problem is especially acute for asset managers and hedge funds, who have not built the infrastructure needed to support reporting, and rely on their SI counterparties for those functions.

The SI Registry is a collaboration between the SmartStream RDU, the Approved Publication Arrangement (APA) community and their SI clients to provide a consolidated register of systematic internalisers mapped to instruments. It will become increasingly important as the SI Regime becomes mandatory from 1st September 2018.

“Now that we’ve moved to MiFID II business as usual, we have started to look at how we can make compliance a more integrated part of a trader’s workflow,” said Andy Mahoney, Head of Sales, FlexTrade UK Ltd. “With the first systematic internaliser assessments coming up later in the year, integration with SmartStream RDU’s SI Registry gives traders the transparency they need on a counterparty’s SI status before routing an order.”

“The SI Registry offers transparency that is needed as part of the trade workflow and integration into FlexTRADER EMS making it easy for our mutual customers to make more informed choices. With the mandatory SI regime commencing from the 1st September this year, we see more brokers offering SI services and growing demand from clients to understand who is offering what,” said Peter Moss, CEO of the SmartStream RDU.

“FlexTrade’s integration with the SmartStream RDU is fully cross-asset and embedded directly into the send order ticket as a flag to identify whether the selected counterparty is operating as an SI in the given instrument,” continued Mahoney. “Embedding regulatory compliance information into the EMS ensures the path to best execution is as efficient as possible.”

To find out more about the integration of the SmartStream RDU in FlexTRADER, or to request a demo, please contact sales_eu@flextrade.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005085/en/

Contacts

FlexTrade
James Tolve
Director of Marketing and PR,
T: +1 (516) 395-0549
E: james.tolve@flextrade.com
or
SmartStream
Nathan Gee
Marketing Director
T: 07966 160 115
E: Nathan.gee@smartstream-stp.com