Demonstrating its commitment to deliver a comprehensive suite of solutions to assist the financial services industry in complying with impending January 3, 2018, MiFID II reference-data requirements, Thomson Reuters has enhanced its reference-data capabilities, available on its integrated data and analytics delivery platform, DataScope.
Thomson Reuters DataScope will deliver key regulatory content and will link crucial information, such as reference data, corporate actions, entity data, end-of-day data and intraday data in an insightful and actionable way for customers to meet MiFID II requirements.
In order to be compliant with MiFID II requirements investment professionals will be required to have suitable risk models that safeguard against risk exposure. For the best value across the trading and investment cycle, market participants will also require a complete overview of the entire non-equity trading lifecycle. The aggregation of market and reference data is central to ensuring this overview is possible.
Given the new Fixed Income, Currencies and Commodities (FICC) requirements under MiFID II, many of the inter-dealer and dealer-to-client platforms will have to formalize their status, either as a Multilateral Trading Facility (MTF) or an Organized Trading Facility (OTF), and, as such, will have to publish trade data in a consistent manner. The Thomson Reuters MiFID II capabilities will also include reference data on equities, warrants, options, futures, commodities, funds, government/corporate bonds, CMOs, municipals, and OTC derivatives.
"The challenge is clear, reference data has become a real focus point for the market and for our customers as they prepare to comply with MiFID II regulations coming into force on January 3, 2018," said Stuart Martin, managing director, risk information & learning services at Thomson Reuters. "At Thomson Reuters we remain committed to providing transparent and efficient solutions that make a measurable difference in enabling our customers to meet growing regulations. Our DataScope MiFID II reference-data suite of solutions represents another step forward in delivering on our commitments."
Will Jan, vice president & lead analyst at Outsell, commented:
"The market fallout of '08 has shown us the consequences of a lack of data transparency. As the primary interface among financial professionals, it is imperative that financial desktop providers lead the effort towards helping their clients meet MiFID II requirements. Their clients are not hoping for such compliance support, they're expecting it."
Thomson Reuters is committed to providing its clients with solutions to meet the full range of MiFID II regulations. Recently announced initiatives to help its clients achieve MiFID II compliance include: a partnership and enhancements to Eikon for research unbundling requirements; Legal Entity Identifier (LEI) profiling service; a partnership with BestX for FX transaction cost analysis; the launch of an enhanced analytics platform for best execution and Systematic Internaliser (SI) determination (Velocity Analytics 8.0); and enhancements to its Tick History feed.