SmartStream RDU Moves Forward with Reference Data Service for MiFID II
- The new system eases compliance with the new regulations for financial firms.
The SmartStream Reference Data Utility (RDU), a fintech provider, publicized a new data reference service that will simplify the upcoming changes of the Markets in Financial Instruments Directive II (MiFID II). The service is the outcome of a collaboration between JPMorgan Chase, Morgan Stanley, SmartStream, and Goldman Sachs.
The London Summit 2017 is coming, get involved!
The service, which is still in the testing stage with clients, will assist financial firms to maintain the regulatory standards to be set by MiFID II in January 2018. The RDU is a fully integrated reference data set which is designed to help companies and institutions with pre-trade price transparency, reports regarding post-trade and transaction stages, and receiving data and enrichment feeds from ANNA, GLEIF, ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term, different trading venues, and the National Competent Authorities.
The goal is to create a system ensuring that the process of client trading complies with the MiFID II regulatory requirements. Additionally, there will be an API that will afford traders access to the ANNA Derivatives Service Bureau, where they can have ISIN look-up and creation, and decide if an Over the Counter (OTC) instrument has a similar one Traded on a Trading Venue (ToTV).
Peter Moss
Peter Moss, CEO of The SmartStream Reference Data Utility, commented: "In workshops with over 40 Systematic Internalisers and other industry participants, we’ve observed a wide variance in MiFID readiness. Our goal is to shield customers from what is a very fluid MiFID environment, accelerate their implementation program and protect their critical path from gaps in availability of key data sets and regulatory interpretation. We are already in testing with clients, helping prepare them for the industry tests that will take place in the summer."
Recently, Finance Magnates covered SmartStream's launch of the Corona Retail Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Control. The system was designed with the intention of assisting financial entities with the automation of exception handling and reconciliation processing. This will further lower both costs and risks, enhance client value, and allow operational control across the lifecycle of the retail payment transactions.
The SmartStream Reference Data Utility (RDU), a fintech provider, publicized a new data reference service that will simplify the upcoming changes of the Markets in Financial Instruments Directive II (MiFID II). The service is the outcome of a collaboration between JPMorgan Chase, Morgan Stanley, SmartStream, and Goldman Sachs.
The London Summit 2017 is coming, get involved!
The service, which is still in the testing stage with clients, will assist financial firms to maintain the regulatory standards to be set by MiFID II in January 2018. The RDU is a fully integrated reference data set which is designed to help companies and institutions with pre-trade price transparency, reports regarding post-trade and transaction stages, and receiving data and enrichment feeds from ANNA, GLEIF, ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term, different trading venues, and the National Competent Authorities.
The goal is to create a system ensuring that the process of client trading complies with the MiFID II regulatory requirements. Additionally, there will be an API that will afford traders access to the ANNA Derivatives Service Bureau, where they can have ISIN look-up and creation, and decide if an Over the Counter (OTC) instrument has a similar one Traded on a Trading Venue (ToTV).
Peter Moss
Peter Moss, CEO of The SmartStream Reference Data Utility, commented: "In workshops with over 40 Systematic Internalisers and other industry participants, we’ve observed a wide variance in MiFID readiness. Our goal is to shield customers from what is a very fluid MiFID environment, accelerate their implementation program and protect their critical path from gaps in availability of key data sets and regulatory interpretation. We are already in testing with clients, helping prepare them for the industry tests that will take place in the summer."
Recently, Finance Magnates covered SmartStream's launch of the Corona Retail Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Control. The system was designed with the intention of assisting financial entities with the automation of exception handling and reconciliation processing. This will further lower both costs and risks, enhance client value, and allow operational control across the lifecycle of the retail payment transactions.