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 ...Read more ›
FacilitExTM is the MiFID II transparency service for Trading Venues (OTFs and MTFs) delivered by Simplitium. The service helps market operators and investment firms operating a Trading Venue meet their MiFID II transparency requirements.
FacilitEx was developed in direct response to market demand and provides OTFs and MTFs with the infrastructure to meet their MiFID II transparency obligations. The service leverages Simplitium’s extensive experience in providing regulatory transparency solutions.
In accordance with MiFID II, Trading Venues are obligated to comply with a range of pre and post-trade transparency regulations. 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.
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.
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 and fifteen minutes for non-equities).
FacilitEx delivers a unique and comprehensive transparency market solution specifically designed to help OTFs and MTFs meet their transparency obligations under MIFID II. Through a highly optimised and customisable infrastructure, the service caters for the needs of high transaction marketplaces. FacilitEx is designed to meet the demands of today's market structures while being future-proofed for the fast moving global regulatory landscape.
FacilitEx covers the entire universe reportable MiFID II Equity and Non-Equity instruments. The solution provides OTFs and MTFs with the tools to publish pre and post-trade information to the market in line with regulatory requirements.
FacilitEx supports waivers and deferrals and publishes indicative quotes for instruments that the NCA’s have granted waivers for.
The solution makes public the price, volume, time of transactions and other additional post-trade reporting fields as close to real-time as is technically possible.
Further, the solution allows venues to choose whether to centralise or send the data over multiple connections for pre and post-trade publications.