SmartStream Technologies has launched a derivatives component for its systematic internaliser (SI) registry service, which is designed to help clients meet the 15 September deadline for the second Markets in Financial Instruments Directive (MiFID II).
The addition of supported derivatives will allow trading counterparties to identify the organisation or entity responsible for reporting both trades in general and specific derivatives.
The MiFID II SI regime is expected to be the most complex part of the directive, as it requires the handling of a sophisticated classification scheme for automating, trading and reporting high quality reference data.
As a reference data utility (RDU) solutions provider, SmartStream’s SI service affirms its existing partnership with the approved publication arrangements (APA) community, including Bloomberg, Deutsche Boerse and MarketAxess, as it is the sole distributor of the SI registry across equity, fixed income and derivative instruments.
Linda Coffman, executive vice president at SmartStream RDU, commented: “The derivatives component represents the last phase of the MiFID II SI regime to be rolled out by the SmartStream RDU development team.”
“We are excited to once again be able to partner with the industry through the APA community and to provide a helping hand to our clients in meeting all of the necessary requirements come 15 September.”
