The MiFID II deadline is only weeks away but 45 percent of European fixed income heads recently surveyed say that they are still struggling to comply by Jan. 3, 2018, according to a new industry report. However, while MiFID II compliance is a top challenge, the inability to source liquidity looms even larger with 55… Read More >>
MiFID II Unbundling Will Come to the U.S.: Q&A
(Editor’s Note: U.S. securities firms breathed a collective sigh of relief when the SEC in late October decided to pause for 30 months the MiFID II unbundling stipulation. The controversial E.U. market reform specifies that buy-side firms unbundle the money they pay for research from the money that they spend on execution via sell-side firms…. Read More >>
SEC Pauses MiFID II Unbundling for 30 Months
The SEC, after consulting with European Union authorities, has issued three no-action letters intended to pause for 30-months some of the burdens associated with the MiFID II stipulation that firms unbundle research, a new requirement hitting home for many U.S. securities firms. However, SEC Commissioner Kara M. Stein, a Democrat on the commission, says that… Read More >>
Banks Could Save $150M via LEIs: McKinsey Report
The global adoption of Legal Entity Identifiers (LEIs) could save investment banks more than $150 million and their banking colleagues up to $500 million in the issuance of letters of credit, according to a new white paper report that management consultancy McKinsey & Co. produced on behalf of the Global Legal Entity Identifier Foundation (GLEIF)…. Read More >>
MiFID II Requires a Strategy Not Just Tactics: Q&A
(Editor’s note: The MiFID II deadline and reforms are hitting home for many non-European firms and they have to decide whether to take a tactical versus strategic approach to overhauling IT and operations, says Gaurav Chandra, product manager for AxiomSL. The company, which offers regulatory reporting and risk management solutions, bases its offerings on an… Read More >>
Linedata, DTCC, Smartkarma & TFS Target MiFID II Burdens
(Editor’s note: With the MiFID II deadline about 100 days away, FTF News will be running an ongoing roundup of IT and operations news related to the market reform legislation.) Linedata & the DTCC Extend a 10-Year-Old Relationship With the MiFID II deadline looming, Linedata, a vendor of investment management solutions, has extended a decade-old… Read More >>
More Firms Join AcadiaSoft Hub to Meet IM Deadline
Hub Gains Six Firms Under Phase 2 of IM Rules Collateral and margining solutions provider AcadiaSoft reports that six more “in-scope firms” under Phase 2 of the new initial margin (IM) rules have been integrated into the AcadiaSoft Hub for non-cleared derivatives. “The additional firms chose to use the hub for IM in order to… Read More >>
MiFID II Implementation Update from FTF News
(Editor’s note: Many securities firms, vendors and service providers are gearing up for the MiFID II deadline of Jan. 3 1018. To help readers keep up, FTF News will be running frequent updates on what industry participants are doing to ease the burden of these industry reforms.) PGI Streamlines Equity Research Valuation and Payment Administration… Read More >>
FTF Awards Gala Q&A: Time to Rethink Regulatory Reporting?
(Editor’s note: Regulators are pushing for more transparency into the parties involved in the pre- and post-trade processes, says Arun Karur, vice president at Sapient Global Markets. This will mean more work for end-user firms, and that the flow of regulation and regulatory reporting will not be slowing down, says Karur, who took time out… Read More >>
Most Firms Overwhelmed by MiFID II’s Best Ex Rules
The onset of MiFID II may be only four months away, but a significant number of asset managers are not prepared to meet the best execution obligations, according to a new study, “Re-Engineering Best Execution,” conducted by Liquidnet, provider of a global institutional trading network. Canvassing 55 North American and European heads of trading and… Read More >>
