MiFID II update: challenges and MTS solutions
The upcoming implementation of MiFID II will have wide-ranging implications for fixed income trading. To address this, MTS is working hard not only on making its platforms fully compliant, but also on helping clients understand how they will be impacted.
From 3rd January 2018, EEA fixed income market participants will have to navigate the new rules under MiFID II, including changes to transparency, reporting and data availability.
MTS has enhanced its technology and data offering to support the following:
- Transparency rules engine, including support for transparency waivers and deferrals on MTS BondVision and the MTS Cash market MidPrice and trade registration functionalities
- Reporting and data, including order record keeping, transaction reporting, reference and market data provision, Best Execution reporting and OTC trade reporting
- Trading venue and microstructure requirements, including clock synchronisation for message timestamps, algo testing, pre-trade price and quantity controls and order to transaction ratios