Get prepared for significant changes to transaction and trade reporting with MiFID II
Of all the regulation that has hit the finance industry over recent years, MiFID II looks set to have the greatest impact.
Vastly increasing the number of reporting requirements, while reducing the time in which to report, the directive also brings a range of new asset classes and firms into scope.
The aim is greater market integrity, with the emphasis shifting from detecting and investigating market abuse, to more orderly trading and the pre-emptive removal of opportunity for rogue behaviour.
CTC from Gresham acts as a central routing point for trade and transaction reporting. Distilling multiple sources of data, it automatically verifies and validates trade information in real time, ensuring consistency and delivering it in the correct format, to the relevant Trade Repository. With regulatory logic and rules pre-built into the platform, it can handle multiple requirements, automatically determining which body a trade needs to be reported to, based on key economic fields.
With the flexibility to incorporate new and amended regulations, it’s always up to date, while switching Trade Repository is a simple and seamless change.
Due for implementation in January 2018, there’s much that financial institutions should be doing to prepare now.
Want to find out how CTC can help?