Nasdaq latest to join Systematic Internaliser Registry Data Group
June 13, 2018

The SmartStream Reference Data Utility (RDU) has today announced the joining of Nasdaq to the Systematic Internaliser (SI) Registry, which provides a hub for SIs to register financial instruments in a centralized database through their approved public arrangement (APA). 

SmartStream notes that the Markets in Financial Instruments Directive II (MiFID II) requires that industry participants identify whether trading counterparties are SIs for the financial instrument that they are trading, so that they can determine which counterparty must report the trade. The problem is acute for market participants as no mechanism is defined in the MIFID II framework to collect the necessary data to determine which counterparty should report. 

The SI Registry data is available for all market participants to use. It helps trading firms to meet their post-trade transparency obligations and allows buy-side firms to identify upfront whether they, or their selected brokers, will be required to report the trade. The date on which it becomes mandatory for financial firms to comply with the SI regime is September 1 this year.

"One of the key ambitions on MiFID II is to promote transparency and investor protection. The ability to provide markets with accurate and complete data, regardless of trading type, is an important component in this ambition, and one that Nasdaq is happy to support by joining the SI Registry", says Fredrik Ekström, Head of Nordic Fixed Income, Nasdaq. 

Says David Bullen of the Systematic Internaliser Registry Data Group: "It's very rewarding to see key industry players pulling together to close this gap in the market infrastructure introduced by MiFID II. Nasdaq is an important addition to the group adding geographic reach and taking us closer to complete coverage. The SI Registry serves as a ‘golden source' of SI status to help market participants meet their regulatory reporting obligations."





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The SmartStream Reference Data Utility (RDU) has today announced the joining of Nasdaq to the Systematic Internaliser (SI) Registry, which provides a hub for SIs to register financial instruments in a centralized database through their approved public arrangement (APA). 

SmartStream notes that the Markets in Financial Instruments Directive II (MiFID II) requires that industry participants identify whether trading counterparties are SIs for the financial instrument that they are trading, so that they can determine which counterparty must report the trade. The problem is acute for market participants as no mechanism is defined in the MIFID II framework to collect the necessary data to determine which counterparty should report. 

The SI Registry data is available for all market participants to use. It helps trading firms to meet their post-trade transparency obligations and allows buy-side firms to identify upfront whether they, or their selected brokers, will be required to report the trade. The date on which it becomes mandatory for financial firms to comply with the SI regime is September 1 this year.

"One of the key ambitions on MiFID II is to promote transparency and investor protection. The ability to provide markets with accurate and complete data, regardless of trading type, is an important component in this ambition, and one that Nasdaq is happy to support by joining the SI Registry", says Fredrik Ekström, Head of Nordic Fixed Income, Nasdaq. 

Says David Bullen of the Systematic Internaliser Registry Data Group: "It's very rewarding to see key industry players pulling together to close this gap in the market infrastructure introduced by MiFID II. Nasdaq is an important addition to the group adding geographic reach and taking us closer to complete coverage. The SI Registry serves as a ‘golden source' of SI status to help market participants meet their regulatory reporting obligations."



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