In an effort to ensure that it is ready for the new regulations that will be coming into effect as part of MiFID II, Deutsche Börse has partnered with SmartStream RDU, to use its reference data tools.
The Deutsche Börse group has been bundling all of its compliance-related tools and solutions into a single platform called the Regulatory Reporting Hub. It is here that the SmartStream RDU will be used to deliver reference data from the Global Legal Entity Identifier Foundation (GLEIF), and data on market opening times.
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Georg Gross, Head of Regulatory Services at Deutsche Börse, said: “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”.
The Regulatory Reporting Hub will help clients and institutions fulfil their obligatory requirements in an efficient and timely manner.
Recently, Deutsche Börse invested in Regtek.Solutions in order to meet the demand among financial institutions to align themselves to regulatory requirements such as those of MiFID II. The push to include new services and features into the hub is also seen as a part of that effort.