What is post-trade transparency?
Post-trade transparency refers to regimes in different jurisdictions that require firms to publicly disclose trades they undertake.
Who needs to report under Mifir?
2.1 Who needs to report? The post-trade reporting obligations must be met by either a Trading Venue (TV), Systematic Internaliser (SI), or a Qualifying Investment Firm (QIF). Trading Venue (TV).
What is trade transparency?
TBML, rather than being a single activity, refers to a variety of schemes used together to disguise criminal proceeds, which can involve moving illicit goods, falsifying trade documents, and misrepresenting trade-related financial transactions with the purpose of integrating criminal proceeds. …
Who has to report under MiFID II?
2. The core reporting obligation is that investment firms which execute transactions in financial instruments must report complete and accurate details of those transactions to their home competent authority as quickly as possible, and no later than the close of the following working day.
What is OTC post trade indicator?
– The OTC post-trade indicator requires firms to identify the type of transaction being undertaken, e.g. benchmark transactions, agency cross transactions, or post-trade large in scale transactions. – The commodity derivative indicator asks whether the transaction reduces risk in an objectively measurable way.
What is xoff venue?
Use MIC code ‘XOFF’ for financial instruments admitted to trading, or traded on a trading venue or for which a request for admission was made, where the transaction on that financial instrument is not executed on a trading venue, SI or organised trading platform outside of the Union, or where an investment firm does …
What is post-trade reporting?
What is Post-Trade Reporting? Articles 14–23 of MiFIR outline the transparency requirements and obligations for investment firms across asset classes as defined in Regulatory Technical Standards (RTS) 1 and 2. Reports are sent to an Approved Publication Arrangement (APA) for publication to the market.
What is pre trade transparency?
Pre-trade transparency is a requirement within the Markets in Financial Instruments Regulation or Mifir, accompanying the Markets in Financial Instruments Directive, for European Union trading venues and market-makers to publish offered, executable quotes before a trade is complete.
Which trading venue is not permitted to bring third party interests together?
systematic internaliser
Difference between SIs and Trading Venues While Trading Venues are facilities in which multiple third-party buying and selling interests interact in the system, a systematic internaliser is not permitted to bring together third-party buying and selling interests in functionally the same way as a Trading Venue.