Facility by Simplitium

VIEW TRADES & QUOTES
/ ABOUT

THE MiFID II TRANSPARENCY SERVICE FOR TRADING VENUES

FacilitEx is Simplitium’s suite of transparency services for Trading Venues, brought to market to help OTFs and MTFs meet the increased transparency obligations introduced by MiFID II.

One way in which MiFID II aims to improve transparency is by bringing trading onto regulated facilities. As traditional OTC trading migrates onto Venues, FacilitEx provides OTFs and MTFs with the tools to publish pre-trade quotes and post-trade reports in line with the regulation and thus ensure continued operations.

The service was developed in cooperation with market participants and based on market demand for a regulatory solution that helps Venues meet their MiFID II pre and post-trade reporting obligations in an efficient, simplified and cost-effective way.

/ REGULATION

THE OBLIGATION

In accordance with MiFID II, Trading Venues are obligated to comply with a range of pre and post-trade transparency obligations. This must be accomplished in accordance with the type of trading system they operate and the requirements set out in Annex I: RTS 1 for Equity and RTS 2 for Non-Equity instruments.

Pre-trade transparency
Post-trade transparency
Under MiFID II, Trading Venues are required to make current pre-trade information available to the public. This includes bid and offer prices, as well as the depth of trading interest at those prices depending on the trading protocol they support.  
 
FacilitEx makes public indicative and firm pre-trade information in line with regulatory requirements, in accordance with specific trading protocols, enabling OTFs and MTFs to meet their pre-trade transparency obligations. The solution also supports waivers and deferrals and publishes indicative quotes for instruments that the NCA’s have granted waivers for.
FacilitEx-Pre-Trade-Transparency
Venues are also subject to the post-trade reporting obligation which requires firms to report executed trades as close to real time as possible, within: 
  • one minute for equities
  • fifteen minutes for non-equities 
FacilitEx makes public relevant post-trade information in line with the regulation, enabling OTFs and MTFs to meet their post-trade transparency obligations.
FacilitEx-Post-Trade-Transparency
/ SOLUTION

COMPREHENSIVE TRANSPARENCY SERVICES

FacilitEx covers the entire universe reportable MiFID II Equity and Non-Equity instruments and provides OTFs and MTFs with the tools to publish pre and post-trade information to the market in line with regulatory requirements.Through a highly optimised and customisable infrastructure, the service caters for the needs of high transaction marketplaces. 

 

Transparency overview diagram
/ EXPERIENCE

A WEALTH OF EXPERIENCE

By leveraging Simplitium’s experience in providing transparency solutions, FacilitEx delivers services that help firms comply with regulatory demands. Through the company’s extensive expertise in financial regulation and strong relationships with national and international regulators, the solution is futureproofed to adapt to future regulations and market structure changes.  
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MULTI-ASSET CLASS SUPPORT

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CALIBRATED FOR DIFFERENT TRADING PROTOCOLS

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BUILT USING MARKET LEADING TECHNOLOGY

/ COMING SOON

PLANNED FUNCTIONALITY

Your regulatory requirements as a Trading Venue are wide ranging and at Simplitium we aim to provide solutions for the majority of them.

While pre and post-trade transparency services are part of the immediate offering, FacilitEx has the flexibility and scope to develop throughout 2018.

We will be adding additional functionality to FacilitEx to help firms comply with the wide ranging obligations as an OTF or MTF under MiFID II.

  • Pre-trade rules engine - Waiver assessment, validation and publication in accordance with the venues' NCA approved waivers
  • Post-trade rules engine - Deferral determination, validation and publication in accordance with the venues' NCA approved deferrals
  • NCA reports creation and submission  - MDP connectivity management
  • Best execution venue reports
  • Surveillance
  • Reference data services
/ NEWS

NEWS

Nov
21

Simplitium delivers new MiFID II ...

The new service, which is called FacilitEx™, helps MTFs and OTFs meet their MiFID II transparency obligations in a reliable and ...

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EVENTS

tradetech europe 2018

The TRADEcho and FacilitEx teams will be attending the TradeTech Europe 2018 Conference on 25-26 April in Paris. The conference will ...

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FIX EMEA TRADING CONFERENCE 2018 

Join FacilitEx and TRADEcho at the FIX EMEA Trading Conference 2018 at the Old Billingsgate in London on Thursday 15th March. Come and see ...

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The Trade: MiFID II Check In

Join the TRADEcho and FacilitEx teams at The Trade's MiFID II Check In event on the 28th of February at the Merchant Taylors' Hall in ...

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Dec
06

FOW Derivatives World London: The ...

Bujar Bivolaku, Head of Regulation and Market Structure Strategy at Simplitium, will be speaking on a panel at the ‘FOW Derivatives World ...

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Dec
11

Webinar: The impact of MiFID II on ...

Hosted by Bujar Bivolaku, Simplitium's Head of Regulation and Market Structures Strategy, this webinar is designed to educate firms on ...

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/ CONTACT

CONTACT / FACILITEX

Unsure of how MiFID II will affect your firm? Will you be operating a Trading Venue under MiFID II? Contact the FacilitEx team to find out how the new regulation will impact your firm and what we can do to help.

5 IRELAND YARD

LONDON

EC4V 5EH