Thomson Reuters Live with Key MiFID II Compliance Services

Blog entry

Thomson Reuters has fulfilled its commitment to clients within the scope of Markets in Financial Instruments Directive II (MiFID II) with go live of key services designed to help them achieve compliance.

Services that have been updated since the January 3rd, 2018 MiFID II compliance deadline include: updated MiFID II compliant data already available to clients from 57 global exchanges and eight new MiFID II trading and reporting venues, including Tradeweb’s Approved Publication Arrangement (APA) and MTS BondVision’s Multilateral Trading Facility (MTF); an enhanced MTF, which went live on schedule with trading and MiFID II compliant trade reporting taking place from the morning of January 3rd; and updated instrument reference data capabilities to ensure comprehensive coverage of the key financial instruments covered by the regulation, including the addition of 1.6 million new pre-fixed individual identifiers (ISINs) for over-the-counter (OTC) derivatives from the ANNA Derivatives Service Bureau (DSB), coverage of 300,000 new financial instruments, additional data for 900,000 existing instruments, and the addition of over 5 million records from the Financial Instruments Reference Data System (FIRDS).

These services are part of a comprehensive suite of MiFID II solutions designed by Thomson Reuters to help clients navigate compliance. The solutions include: enhancements to the company’s data analytics platform, Velocity Analytics, to support best execution compliance, transaction cost analysis and systematic trading; a partnership with VisibleAlpha and enhancements to Eikon to assist in compliance with research unbundling; the introduction of an APA connectivity solution for trade reporting requirements; a legal entity identifier (LEI) profiling solution; and enhancements to its tick history feed.

Debra Walton, global head of customer proposition at Thomson Reuters, says: “Implementing MiFID II has been a major test for the industry and we are happy to have played our part as a trusted partner to make it as easy as possible for firms to comply. The MiFID II journey doesn’t end here, and we will be working closely with our clients to help them meet the next phase of deadlines, such as best execution and the reporting requirements for systematic internalisers.

“As well as being a significant challenge, MiFID II means there is more data flowing through the global financial community than ever before, creating exciting opportunities for firms that can harness the data efficiently and discover profitable new insights.”