Monday November 20 2017

News Source: Global Exchanges

Focus: MiFID (Global Exchanges)

Type: General




The Federal Financial Supervisory Authority (BaFin) has announced that it will adopt the European Securities and Markets Authority (ESMA) guidelines on  Articles 26 and 25 Markets in Financial Instruments Regulation (MiFIR) and Article 50, paragraph 2 of the MiFID ( Markets in Financial Instruments Directive II – MiFID 2 ) as part of its supervisory practice.

Article 26 MiFIR requires investment services providers to report the completion of transactions in financial instruments to the relevant supervisory authorities as of 3rd January 2018.

In accordance with Article 25 of MiFIR, trading venues must keep the data on order allocations and make them available to the supervisory authorities upon request.

In addition, Article 50 (2) of MiFID II obliges all trading venues and their participants to synchronize the clocks they use in their business dealings.

The ESMA guidelines cover all three requirements. They describe concrete business scenarios as well as the contents with which the reporting fields are to be filled, as well as the reporting system that the respective business constellations entail.

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