Georg Gross, Deutsche Börse
Deutsche Börse Group has entered into a cooperation with The SmartStream Reference Data Utility (RDU). The European market infrastructure provider will use SmartStream RDU service for its upcoming Regulatory Reporting Hub. SmartStream RDU is a managed service that delivers reference data for use in, among others, regulatory reporting offerings. The reference data includes the data from ESMA, GLEIF (global legal identifier foundation) as well as data on opening and closing times of markets that are used in the transparency services offered by the Regulatory Reporting Hub.
SmartStream RDU has also announced a new service - the Systematic Internaliser Register - intended to plug a gap in the Markets in Financial Instruments Directive II (MiFID II) regulatory protocols. The service, which has been jointly developed by SmartStream RDU and Deutsche Börse, enables Systematic Internalisers to publish the financial instruments for which they will offer Systematic Internaliser services. The Systematic Internaliser Register will play a central part for identifying Systematic Internalisers within the Regulatory Reporting Hub.
"Fully-fledged and validated reference data is a key prerequisite of regulatory reporting. By collaborating with SmartStream RDU we are able to offer a comprehensive offering via our Hub, which meets all regulatory requirements; and processes are simplified, resulting in lower overall administrative costs for our users. The SmartStreamRDU Systematic Internaliser Register in particular, will be extremely valuable to our clients since it eliminates the need to bilaterally communicate Systematic Internaliser status in trade messages," said Georg Gross, Head of Regulatory Services at Deutsche Börse.