Steve French, NEX Optimisation
NEX Optimisation has extended Traiana's Harmony messaging network to enable participants to exchange additional information to assist with meeting regulatory obligations under MiFID II. This includes support for data elements associated with transparency, transaction reporting, venue execution, instrument and entity identifiers, timestamps, OTC post-trade indicators and unbundling of research and execution fees.
The MiFID II enhancement is being implemented across all asset classes supported by the Harmony network for bi-lateral, tri-party and cleared trading paradigms. Field reference guides are available to market participants now.
The MiFID II network enhancement programme follows previous initiatives to meet regulatory change for other jurisdictions including support for USIs and UTIs for CFTC and EMIR regulatory reporting respectively.
Steve French, Head of Connectivity and Messaging, NEX Optimisation, said: "It's clear from the level of interest and participation from existing clients that the Harmony network is key to helping firms satisfy a number of their regulatory requirements. NEX Optimisation is at the forefront of providing services to support MiFID II compliance."