What is post-trade transparency?
What is post-trade transparency?
Post-trade transparency refers to regimes in different jurisdictions that require firms to publicly disclose trades they undertake.
What is a MiFID passport?
MiFID. Passporting enables firms that are authorised in any EU or EEA state to trade freely in any other with minimal additional authorisation. These passports are the foundation of the EU single market for financial services.
What is reportable under MiFIR?
The transaction reporting obligation under MiFID II/MiFIR captures: financial instruments which are admitted to trading or traded on a trading venue or for which a request for admission to trading has been made, financial instruments where the underlying is a financial instrument traded on a trading venue, and.
What is pre trade transparency?
Pre-trade transparency is a requirement within the Markets in Financial Instruments Regulation or Mifir, accompanying the Markets in Financial Instruments Directive, for European Union trading venues and market-makers to publish offered, executable quotes before a trade is complete.
What is OTC post-trade indicator?
– The OTC post-trade indicator requires firms to identify the type of transaction being undertaken, e.g. benchmark transactions, agency cross transactions, or post-trade large in scale transactions. – The commodity derivative indicator asks whether the transaction reduces risk in an objectively measurable way.
What MiFID means?
Markets in Financial Instruments Directive
The Markets in Financial Instruments Directive (MiFID) is a European regulation that increases the transparency across the European Union’s financial markets and standardizes the regulatory disclosures required for firms operating in the European Union.
What is the difference between MiFIR and MiFID?
The main difference between MiFID and MiFIR is that the directive (MiFID) sets out the goals that EU member states should strive to meet, whereas the regulation (MiFIR) imposes rules that all countries must follow. MiFID II is a legislative act that sets out goals that all countries in the EU need to achieve.
What are reportable instruments?
To be reportable an instrument must be considered a financial instrument specified in Part 1 of Schedule 2 to the Regulated Activities Order and be admitted to trading or traded on a trading venue within scope of the UK MiFID framework.
What is a pre-trade information?
The MTS pre-trade information tool enables asset managers to search for the bonds they wish to trade and identify an appropriate counterparty in an efficient and effective manner. A buy-side trader can identify the appropriate counterparties to choose prior to executing on MTS BondVision.
What does MiFID II mean for post-trade transparency?
The post-trade transparency regime has been extended to include non-equity and equity-like instruments and instruments traded on MTFs and OTFs. MiFID II retains the requirement for operators of trading venues to make public the price, volume and time of transactions as close to real-time as is technically possible.
What does the MiFID passport mean for investment firms?
MIFID introduced a number of items including the MiFID passport, client categorisation requirements, client order handling requirements, pre- and post trade transparency requirements and requirements relating to investment firms ensuring that clients receive best execution.
What is the MiFID II regime?
The MiFID II regime substantially expands the pre-trade and post-trade transparency regime for financial instruments traded in the European Union. The MiFID I transparency requirements are limited to equities admitted to trading on regulated markets.
What must a transaction report include under MiFID?
Under MiFIR, a transaction report must include ‘details of the identity of the client’ and ‘a designation to identify the clients on whose behalf the investment firm has executed the transaction’. What Types of Organization are Covered by MiFID?
