New Mifid 2 solutions for the buy- and sellsides

Thomson Reuters launches Mifid 2-ready analytics platform

Thomson Reuters has made enhancements to its data analytics platform, Thomson Reuters Velocity Analytics, to provide high-speed processing of real-time, streaming and historical data that will help EU and non-EU financial markets participants meet their Markets in Financial Instruments Directive (Mifid) 2 obligations.

The enhanced platform, now powered by Kx's technology, provides best execution compliance, transaction cost analysis, quantitative and systematic trading, and will also support new multi-asset best execution and SI (Systematic Internaliser) determination capabilities from Thomson Reuters in 2018.

"Mifid 2 compliance is fundamentally a data challenge and the work we have been doing to completely reengineer Velocity Analytics will support financial markets participants looking for best execution, transaction costs analysis, and other high performance trading analytics," said Brennan Carley (pictured), head of enterprise propositions at Thomson Reuters, in a statement.

By deploying Kx technology Thomson Reuters Velocity Analytics can now process larger volumes of data from multiple sources in real-time. Thomson Reuters has also expanded the historical and reference data available for processing through full integration with its Datascope Select service as well as with Thomson Reuters Pricing Services for independent evaluated prices. In addition, Velocity Analytics is integrated into Thomson Reuters Enterprise Platform enabling financial institutions to use their existing infrastructure investments to access streaming analytics.

Vienna Stock Exchange to launch Mifid2-compliant IT system

VSE is working on an IT solution to comply with the Mifid2 guidelines coming into force in January 2018. The Transparent Trade Reporting (TTRII) is a standardised solution comprising all Mifid 2 transparency requirements for all asset classes. With the TTRII solution the VSE is going to ensure obligations regarding OTC transactions and the reporting orders and quotes for investment firms which will available to data vendors as well.

However the financial supervisory FMA needs to approve the VSE initiative to act as an Approved Publication Arrangement (APA). In addition, the Zagreb Stock Exchange, the Budapest Stock Exchange and the Ljubljana Stock Exchange will also join the new trading system. The service will be available in FIX format or via a Web GUI. VSE will publish the transactions reported through its existing data dissemination infrastructure ADH and make it available to data vendors.

The Austrian stock exchange is planning to offer its new TTRII service in January 2018, which is the follow up system of the TTR - the Mifid 1 compliant pre-and post-trade reporting service which has been in place since 2007.

Plazma enhances Mifid 2 toolkit

Instinet Incorporated has added two new tools, Vendor Search and Credit Tracker, to its Plazma online account management platform. Vendor Search has been designed to help users to find research providers by searching multiple categories, including sectors and specialities; while Credit Tracker helps provide customers with functionality to track and manage Commission Sharing Agreements and Research Payment Accounts.

In addition, Plazma has undergone a refresh making it easier to navigate, which includes a snapshot of account standings, and customizable tables to quickly receive data for onsite and exported viewing.

Instinet has been working with clients and regulators to develop practical solutions that support the regulatory approach set out in Mifid 2. In becoming a Payment Institution, the firm expanded the breadth of its offering to support all research payment models, including Credit Support Annex (CSA) for derivative transactions and hard dollar approaches.

LSE's Tradecho rolls-out Mifid 2 smart report router

Boat Services and London Stock Exchange's Tradecho service have launched an open access Smart Report Router (SRR) targeted at buy and sell-side investment firms required to publish trades to the market as close to real time as possible under the upcoming Mifid 2 Directive.

The Smart Report Router determines if and when the buy or sell side counterparty should publish the trade, and where there is a requirement it routes that trade to an Approved Publication Arrangement (APA) of choice for publication. The SSR has been designed to help financial firms comply with their pre- and post-trade transparency obligations.

According to Alastair Goodwin, head of business development at Boat Services, the smart report route is a 'great example' of a service being built to meet clients' requirements. "This is a major challenge market participants face in the trade transparency space," said Goodwin, in a statement. "We have been asked for and are delivering a resilient, compliant and flexible solution."

Brian Schwieger, global head of equities product at the London Stock Exchange said the new SSR tool will provide customers with choice and flexibility, and a comprehensive reporting solution ahead of the new reporting requirements under Mifid 2.

The SRR is APA agnostic allowing firms to use an alternate APA to make the trade public. The ability to smart route trade reports to different APAs will enable firms to reduce the cost of connecting directly to multiple APAs. The SRR's flexibility extends to its configuration including the ability to provide 'assisted reporting' by which a firm can facilitate reporting on behalf of its counterparty/clients.

Tradecho is a Pan-European, multi-asset class Mifid 2 transparency service for financial firms, offered jointly by London Stock Exchange and Boat Services. The two companies currently manage a substantial share of firms' Mifid trade reporting.

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