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TP ICAP appoints Bloomberg Entity Exchange for key MiFID II compliance role

First Published 24th July 2017

Bloomberg's technology platform to help TP ICAP clients register onto new trading venues ahead of the introduction of MiFID II.

Nicolas Breteau, TP ICAP

Nicolas Breteau, TP ICAP

London - TP ICAP, the interdealer broker, has selected Bloomberg Entity Exchange as the chosen platform to help clients register onto new trading venues operated by its broking businesses, including Tullett Prebon and ICAP.

TP ICAP firms have applied to operate Organized Trading Facilities‎ (OTFs) under the MiFID II regulatory regime. MiFID II, which applies across the European Union from 3 January 2018, requires operators of OTFs and other trading venues to collect information about venue users and transactions. It also prescribes information to be given to venue users, including risk disclosures.

Bloomberg Entity Exchange is a, web-based electronic platform, which will provide an environment to centralize the exchange of information required by the new rules. ‎It will also facilitate the distribution and management of venue-related documentation, such as rulebooks and policies, as well as contractual documentation.

Nicolas Breteau, Chief Executive, TP ICAP Global Broking, said: "We are pleased to have agreed this partnership with Bloomberg Entity Exchange, which will help ensure we simplify the repapering process for our clients in our preparation for MiFID II, a regulation which will have far reaching implications for the industry we operate in."

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