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Thomson Reuters and Tradeweb create MiFID II compliance solutions

First Published 9th March 2017

New suite of services aims to simplify regulatory compliance for financial markets participants in 2018 as Thomson Reuters releases new MiFID II test data to clients.

Debra Walton, Thomson Reuters Financial and Risk

Debra Walton, Thomson Reuters Financial and Risk

London - Thomson Reuters is creating a holistic suite of reporting services to help market participants meet post-trade transparency requirements mandated by the Markets in Financial Instruments Directive II (MiFID II).

In preparation for the new regulations, the company is working with over 50 European exchanges and 30 additional venues to onboard new MiFID II content to its Elektron Data Platform. It is also providing test data to market participants so that they can prepare their systems for new parameters, such as high-precision time-stamps, in advance of MiFID II deadlines.

The new suite of MiFID II services will include multi-asset best execution, SI (Systematic Internaliser) determination, research valuation, market data aggregation and bespoke reference data services. In addition, Thomson Reuters is collaborating with Tradeweb for APA (Approved Publication Arrangement) services, which will include data collection, monitoring, validation, exception processing, management information statistics and determination of both standard and enhanced deferred publication arrangements.

The MiFID II services leverage Thomson Reuters enterprise feeds and platforms (Elektron Data Platform) so that customers can deploy their existing infrastructure investments to connect to Velocity Analytics, data feeds and trades reported via Tradeweb's APA.

Deb Walton, global managing director, customer proposition at Thomson Reuters said: "Our mission is to make MiFID II compliance as easy as possible for our customers and the market, providing integrated services that take advantage of their existing infrastructure, map their workflow and ready them for the opportunities they will have post-January 2018."

Simon Maisey, managing director and global head of business development at Tradeweb said: "Thanks to a one-year head start, we are pleased to be able to offer an APA-early facility, enabling our clients to conduct initial testing, with nine leading financial firms already committed."