Thomson Reuters has successfully gone live with its key MiFID II services, helping the financial services industry meet the new regulatory requirements.
The new services are part of Thomson Reuters’ commitment to providing a comprehensive suite of solutions to assist the financial services industry with ensuring ongoing compliance with MiFID II requirements.
Services with major updates since 3 January include: updated MiFID II compliant data already available to clients from 57 global exchanges, and eight new MiFID II trading and reporting venues, including Tradeweb’s Approved Publication Arrangement (APA) and MTS BondVision’s Multilateral Trading Facility (MTF); an enhanced Multilateral Trading Facility, which went live on schedule with trading and MiFID II compliant trade reporting taking place as required from the morning of 3 January.
In addition, there are updated instrument reference data capabilities to ensure comprehensive coverage of the key financial instruments covered by the regulation, including the addition of 1.6 million new pre-fixed individual identifiers (ISINs) for over-the-counter (OTC) derivatives from the ANNA Derivatives Service Bureau (DSB); coverage of 300,000 new financial instruments; additional data for 900,000 existing instruments; and the addition of over 5 million records from the Financial Instruments Reference Data System (FIRDS).
“Implementing MiFID II has been a major test for the industry and we are happy to have played our part as a trusted partner to make it as easy as possible for firms to comply,” says Debra Walton, Global Head of Customer Proposition at Thomson Reuters. “The MiFID journey doesn’t end here and we will be working closely with our customers to help them meet the next phase of deadlines, such as best execution and the reporting requirements for Systematic Internalisers.
“As well as being a significant challenge, MiFID II means there is more data flowing through the global financial community than ever before, creating exciting opportunities for firms that can harness the data efficiently and discover profitable new insights.”
The new MiFID II market data is available through the Thomson Reuters Elektron Data Platform, as well as through Thomson Reuters desktop solution, Eikon. The Elektron Data Platform is Thomson Reuters integrated content and capabilities platform. It is designed to enable clients to get their data from a single trusted platform, with a choice of real time and non-real time content, reference data and analytics solutions, along with a range of delivery options.
Thomson Reuters has previously announced a comprehensive suite of MiFID II solutions to help its clients navigate MiFID II compliance, including: enhancements to its data analytics platform, Velocity Analytics, to support best execution compliance, transaction cost analysis and systematic trading; a partnership with VisibleAlpha and enhancements to Eikon to assist in compliance for research unbundling; the introduction of an APA connectivity solution for trade reporting requirements; a legal entity identifier (LEI) profiling solution; and enhancements to its Tick History feed.