MiFIRRSS

BNG Bank in regtech project with BearingPoint

BNG Bank goes Mondrian (and implements new regtech)

BNG Bank, a public sector bank in the Netherlands, is implementing BearingPoint’s Abacus regtech solution for MiFID II/MiFIR, EMIR II, MMSR and SFTR reporting.

Banks face “mad rush” to prepare for MiFIR

Virginie O'Shea: MiFIR will leave no room for interpretation

Financial institutions will need to maintain records, report transactions and supply reference data under the European Commission’s forthcoming MiFIR regulation. But those who expect plenty of time for implementation and no regulatory conflicts are likely to be disappointed, according to a new report by analyst firm Aite.

ESMA trade reporting standards “could decide” future of markets

Pickles: the ESMA consultation matters

The European Securities and Markets Association is consulting financial institutions on which messaging protocol and data formats would be best for trade reporting under MiFIR. As the timeframe for reporting comes ever closer to real-time, the consequences could be serious.

MiFID II transparency: a brave new world

EC to ESMA: "Non."

As the European Parliament adopted MiFID II/MiFIR on 15 April, the financial services industry was left wondering what exactly the new transparency regime is going to mean. Despite a curiously low EC estimate of compliance costs, at between €512 and €732 million, it is clear that MiFID II will have a large impact on the tens of thousands of firms and counterparties that will now fall under its scope.

Transparency: the new wonder drug?

regulation

While transparency may be seen as a new wonder drug that will cure all the industry’s ills, it does not come without side effects, so it was refreshing to see ESMA promoting a collaborative approach with the industry in defining the details of how MiFID II and MiFIR are implemented.

Here algo again: MiFID II will require your attention in 2014

Some EU governments are pushing changes that may close legitimate practices

For firms who remember MiFID I, and those that don’t, round two is almost upon us. This month, the Council of the EU agreed their general approach, meaning that the draft of MiFID II/MiFIR is free to advance to the European Parliament. If all goes according to the current plan, the new combined legislation will be with us in time for 2015 implementation.

@banking
techno