Simplitium™ has announced the delivery of a new service that will help Trading Venues meet their transparency obligations under MiFID II. The solution was launched in November 2017 to enable Trading Venues to meet their regulatory needs in advance of MiFID II.
In accordance with MiFID II, Trading Venues are required to make current pre-trade information available to the public. This includes bid and offer prices, as well as the depth of trading interest at those prices depending on the trading model they support.
Venues are also subject to the post-trade reporting obligation which requires firms to report executed trades as close to real time as possible (within one minute for equities and fifteen minutes for non-equities). This must be accomplished in accordance with the type of trading system they operate and the requirements set out in Annex I of RTS 1 for Equity and RTS 2 for non-equity instruments.
The FacilitEx solutions have been designed to help Trading Venues meet these requirements in a simplified and efficient manner. Developed in direct response to market demand, FacilitEx provides OTFs and MTFs with the infrastructure to meet their MiFID II transparency obligations. The service leverages Simplitium’s extensive experience in providing regulatory transparency solutions.
“FacilitEx is a service the industry has both asked for and needs, and we are proud to be the vehicle to deliver it,” says Jamie Khurshid, CEO of Simplitium. “Simplitium has operated transparency services for the financial industry for over a decade. During this time, we have demonstrated time and time again that we are able deliver efficient solutions that solve industry problems. Our achievements are a testament to our expertise in regulatory compliance and our extensive experience in the financial markets.”