MiFID II Events

MiFID II Events

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Markets in Financial Instruments Directive II (MiFID II) creates new data sources that could be used to identify business opportunities and gain competitive edge. The sources include Approved Publication Arrangements (APA) and ESMA’s Financial Instruments Reference Data System (FIRDS). The regulation also mandates use of standard data, disaggregated market data feeds, and ISINs for OTC derivatives. So much data, but what to do with it? The webinar will review data sources created by MiFID II, detail how they – along with other required data – can be maximised for business benefit, and question whether the new sources will change the pecking order in financial trading.

The aim of Markets in Financial Instruments Directive II (MiFID II) to make market data more accessible requires market data providers to offer unbundled pre- and post-trade market data feeds that can be delivered as direct feeds or part of a consolidated service. The regulation also requires investment firms to publish details of OTC trades to an Approved Publication Arrangement (APA). The webinar will discuss best practice approaches to managing and aggregating market data in the MiFID II world, and touch on the benefits of a strategic approach.

Despite the compliance deadline of the Fundamental Review of the Trading Book (FRTB) being pushed back to 2020 by many national regulators, the time to address the data management challenges of the regulation is now. The webinar will discuss key elements of FRTB – including risk models, liquidity horizons and data sourcing for risk calculations, back testing and hedging – and consider the data management challenges these present. It will also identify solutions to the challenges and consider how best they can be implemented and to what advantage.

As Markets in Financial Instruments Directive II (MiFID II) hits the six-month mark after go-live, many financial institutions within its scope continue to work both internally and externally with Approved Reporting Mechanisms (ARMs) to improve the accuracy, timeliness and efficiency of their transaction reporting. Some of the problems implicit to transaction reporting include managing ISINs required for OTC derivatives and LEIs required for all entities trading with European counterparties. The webinar will discuss solutions to these and other problems, and identify what outstanding transaction reporting looks like.

The concept of data standardisation is gaining ground as financial firms tackle mounting regulatory requirements while seeking to improve efficiency and reduce costs. Identifiers such as Legal Entity Identifiers (LEIs) and International Securities Identification Numbers (ISINs), and classification codes such as Classification of Financial Instruments (CFI) codes, provide some standardisation to data management, particularly for regulatory reporting, but what next and what are the challenges and opportunities of data standardisation?