The Bloomberg platform will register TP ICAP clients on to new trading venues operated by its broking businesses, including Tullett Prebon and ICAP.
It will also facilitate the distribution and management of venue-related documentation, including contractual documentation.
MiFID II, which will be implemented in January 2018, requires operators of organised trading facilities (OTFs) to collect data about users and transactions.
In April, Bloomberg was also selected by Italian banking group Intesa Sanpaolo, to provide accounting data for compliance with the International Reporting Standard 9 (IFRS 9).
Dan Matthies, global head of Bloomberg Entity Exchange, stated: ”Entity Exchange enables the secure and efficient exchange of information and documentation required for TP ICAP to provide execution services to its customers in compliance with MiFID II.”
Nicolas Breteau, chief executive of TP ICAP Global Broking, said: “We are pleased to have agreed this partnership with Bloomberg Entity Exchange, which will help ensure we simplify the repapering process for our clients in our preparation for MiFID II, a regulation which will have far reaching implications for the industry we operate in.”
“MiFID II will impose significant requirements on firms to share and collect data from their clients. We want to help our clients to quickly understand what the new rules will mean to their trading relationships, especially around trade execution, reporting and transparency.”
TP ICAP provides broking services, data and analytics and market intelligence, with 30 offices in 31 countries.