Posted by Mae Kowalke on Wednesday, November 04, 2015 with No comments
Significant attention is being paid to the potential impact of MiFID II regulations on financial markets, when they go into effect in 2017. However, one aspect of these changes tends to get overlooked: definitions in Article 50 regarding accuracy and granularity of the timestamping of trade flow packets that must be logged for financial compliance reporting. Accedian is keeping a close eye on this and will be discussing it at the 2015 European Trading Architecture Summit in London on November 19.
We are a Lead Sponsor at the highly-regarded financial markets trading technology event, which will be will be attended by about 200 C-suite business professionals representing banks, brokers, exchanges, and other financial organizations.
What's the big deal about timestamping? There are two aspects, said Ian Salmon, Accedian Market Consultant - Finance, in a recent Automated Trader article:
- Scope - The new rules require most participants to timestamp every 'reportable event' in a transaction's lifecycle to millisecond or finer accuracy and granularity.
- Breadth -The new rules cover more assets than were previously regulated, requiring more points to be instrumented along the trade flow path: any location that can affect the outcome of a trade, including the time it executes, need to be logged.
10:45am MiFID II - Preparation, Implementation and Awareness
Questions to be explored during the panel include:For more about timestamping for financial networks, see:
- What is MiFID II and how does it affect trading compliance?
- What changes need to be made so ensure you're ready for the January, 2017 MiFID II implementation deadline?
- Will MiFID II rules change trading patterns?
- What legislative changes are expected that relate to MiFID II?