The SmartStream Reference Data Utility (RDU) – Systematic Internaliser Registry
The only effective record of Systematic Internaliser (SI) services, essential to determine the current MIFID II status of a trading counterparty
A critical foundation for sustainable MiFID II compliance
The SI Registry offers a comprehensive and granular record of Systematic Internaliser status for each financial product and product group that the SI trades:
APAs and trading counterparties can reliably determine who should trade report and avoid regulatory risk from over or under reporting
Counterparties can reliably populate transaction reports with the Buyer Identification Code and Venue
Systematic Internalisers can advertise their SI services
Buy-side firms can select brokers based on their SI status
Buy-side firms can avoid regulatory risk by ensuring that their selected brokers offer SI services for the financial products that they trade
SI status also indicates that a broker can offer liquidity and best execution for OTC trades
SI Status and ToTV eligibility are essential components of a MIFID II control framework.
