With the MiFID Derivatives SI Regime being postponed until September there’s never been a better time to get ahead. SmartStream RDU understands that this is by far, the most challenging component of the SI regime – and we’re here to help you get started.
We have partnered with the APA community and are the sole distributor of the SI registry, which provides SI status across Equity, Fixed Income and Derivative Instruments. Additionally, our API service takes the complexity out of traversing between an ISIN and the associated COFIA SI status for derivatives – drastically simplifying a firm’s ability to identify counterparty SI status, allowing for faster adoption and ultimately compliance of the upcoming regulation.
The Systematic Internaliser Registry is the most complete record of Systematic Internaliser (SI) services, essential to determine the MIFID II status of any chosen counterparty. This unique data set is sourced from the SIs themselves in collaboration with the Approved Publication Arrangements (APA) community and offers a listing of the financial instruments and asset classes for which the SIs are providing SI services.
The SI Registry offers a comprehensive and granular set of data that brings clarity to the markets:
- APAs and trading counterparties can reliably determine who should trade report
- Buy-side firms can reduce regulatory complexity by ensuring that selected brokers offer the appropriate SI services
- Systematic Internalisers can advertise their services
- Buy-side firms can select brokers based on the services that are available in the market
- Buy-side firms can identify the brokers that offer liquidity and best execution for OTC trades