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Such institutions were often found by the courts to have failed in reporting millions of transactions. Post-Brexit, the UK is no longer bound by MiFD 2. However, to maintain market stability and ensure smooth cross-border financial services, the UK initially incorporated MiFID 2 into its domestic law under the European Union (Withdrawal) Act ...
The Article 4(1)(20) of Directive 2014/65/EU (MiFID II) considers "investment firms dealing on own account when executing client orders over the counter (OTC) on an organised, frequent, systematic and substantial basis" systematic internaliser and requires them to report their trades. [2]
MiFID II classified three types of trading venue: A regulated market (RM) run by a market operator; A multilateral trading facility (MTF) An organised trading facility (OTF) Permission to run any of the three types of service was required from an appropriate regulator, with the existing exchanges registering as regulated markets.
An Approved Publication Arrangement (APA) is an entity authorized under the MiFID II directive to publish trade reports on behalf of investment firms, fulfilling requirements outlined in Article (4)(1)(52).
Actuate Corporation is a reporting, analytics and customer communications software company based in San Mateo, California, part of the San Francisco Bay Area and Silicon Valley. The company’s software is intended for use in the finance, government, manufacturing, telecommunications, and healthcare industries, among others.
A Unique Transaction Identifier (UTI), alternatively called Unique Swap Identifier (Acronym: USI) is a globally unique identifier for individual transactions in financial markets. USIs were introduced in late 2012 in the U.S. in the context of Dodd–Frank regulation, where reporting of transactions to Trade Repositories first became mandatory.
Stock market equivalence is granted by the European Union to those countries whose stock markets are deemed to be 'equivalent' to those of the EU countries. On 3 January 2018, the EU implemented the "Markets in Financial Instruments Directive II" (colloquially known as "MiFID II") which required all European investment firms & traders to trade the shares of a company listed in the EU on a ...
ACT, or Automated Confirmation of Transactions, is a system for reporting and clearing trades in the over-the-counter (OTC) and NASDAQ securities markets. [1] [2] In contrast to Qualified Special Representative (QSR) clearing via the National Securities Clearing Corporation (NSCC), which requires multiple relationships between brokers, dealers, and clearing firms, ACT facilitates and ...