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Innovative solutions to help you meet your MiFID II requirements
What is MiFID II?
The Markets in Financial Instruments Directive (MiFID) and the accompanying Regulation (MiFIR), enacted in 2007, transformed trading in the European Union. The new regulations impacted financial market participants offering investment services and created a more structured environment for trading, clearing, and reporting.
Building upon these rules to address issues that surfaced during the financial crisis of 2008, regulators have revised the original directive. The updated regulations, known as MiFID II, are set to take effect on 3 January 2018.
Once implemented, MiFID II will close the gaps in the original regulatory framework, expanding the scope of the rules and increasing transparency, investor protections, and the overall governance of financial markets.
How Will MiFID II Affect Your Business?
Aimed at European markets, MiFID II has far-reaching implications for global market participants and with the deadline for compliance fast approaching, both the buyside and sellside are preparing for its impact.
These new obligations will bring about significant changes including the creation of Market Structures (MTF, OTF, SI) that will centralize trading and a drastic increase in the amount and type of data to be captured, reported and maintained. Under MiFID II, market participants must establish and review clear execution policies, demonstrate best execution to their clients, and report to the regulators.
FX market players dealing throughout the EU will need to considerably update their trading systems and processes to comply with the demands of new financial regulations. Most importantly, the race to MiFID II compliance has the potential to interrupt the way financial businesses operate in the EU and to distract them from growing their businesses.
The Integral platform contains all of the services you need to become MiFID II compliant.
Integral’s Intelligent Solutions for the MiFID II Regime
As your trusted FX technology partner, Integral is aligning our solutions with your business needs. We understand the global implications of MiFID II and are rapidly expanding our services and offerings to help you proactively meet your regulatory commitments.
Integral is uniquely positioned to help you transition to a MiFID II compliant FX environment with OCX, which will operate as a registered Multilateral Trading Facility.
The entire Integral platform, including BankFX and OCX, has always been designed and delivered to the most demanding execution, transparency and reporting requirements, so offering the platform and services for full MiFID II compliance is a natural progression.
OCX as a Registered Multilateral Trading Facility (MTF)
OCX will operate as a registered Multilateral Trading Facility (MTF) – providing access to transparent and compliant trading of FX forwards, swaps and NDFs. As an MTF, OCX will fulfill MiFID II obligations for transparency reporting and support your transaction reporting needs. With Integral as a trusted partner offering enhanced surveillance practices, monitoring procedures, and execution analysis, you can prove to your clients that you are in line with MiFID II and acting in their best interests.
This flexible MiFID II compliant trading venue will continue to seamlessly integrate with Integral’s workflow products – BankFX, InvestorFX, MarginFX – so you can design and deliver complete solutions tailored to your business.
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BankFX – All the Services Necessary to Meet MiFID II Requirements
Our award winning BankFX platform includes all of the services necessary to meet MiFID II requirements including support for pre-trade and post-trade transparency, surveillance, TCA, reporting, and record keeping.
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Integral Sales Dealer – the Best Solution for MiFID II Compliant Voice Trading
If you have customers who submit orders over the phone, you don’t have to change the way you communicate with them in order to be MiFID II compliant. Integral Sales Dealer solves your MiFID II compliance concerns quickly and easily.
Integral's Sales Dealer
- Designed by FX salespeople for FX salespeople
- Captures all FX product and order types for both trades and quotes
- Records full market snapshot and all required regulatory data
- Includes manual pricer for dealer intervention across all platforms
- Makes MiFID II compliance so much easier for your business
Contact us for a demonstration of Integral Sales Dealer to learn how quickly and easily your voice trading can become MiFID II compliant.