Simplitium delivers new MiFID II transparency service for Trading Venues

Press Release - 21.11.2017

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

Simplitium™, financial services transparency specialist, today announced the delivery of a new service that will help Trading Venues meet their transparency obligations under MiFID II. The solution was launched in November 2017 to enable Trading Venues to meet their regulatory needs in advance of MiFID II.   

In accordance with 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 model 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). This must be accomplished in accordance with the type of trading system they operate and the requirements set out in Annex I of RTS 1 for equity and RTS 2 for non-equity instruments.

The FacilitEx solutions have been designed to help Trading Venues meet these requirements in a simplified and efficient manner. Developed in direct response to market demand, FacilitEx 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. 

“FacilitEx is a service the industry has both asked for and needs, and we are proud to be the vehicle to deliver it,” says Jamie Khurshid, CEO of Simplitium. “Simplitium has operated transparency services for the financial industry for over a decade. During this time, we have demonstrated time and time again that we are able to deliver efficient solutions that solve industry problems. Our achievements are a testament to our expertise in regulatory compliance and our extensive experience in the financial markets.”

For further information, please contact:
Emmy Granstrom
Marketing Director
Simplitium
+44 (0)20 3735 4981
emmy.granstrom@cinnober.com

 


 

About FacilitEx™

FacilitEx 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.

Developed in direct response to market demand, FacilitEx provides OTFs and MTFs with the tools to meet their MiFID II transparency obligations. The service leverages Simplitium’s extensive experience in providing regulatory transparency solutions to deliver a reliable and cost-effective service. For further information, please visit www.simplitium.com/facilitex.

 

About Simplitium™

By listening and responding to the market, Simplitium (formerly known as Boat Services) transforms complex challenges into flexible, scalable and secure solutions. Simplitium’s services help firms achieve greater efficiency and transparency in their daily operations, from regulatory compliance and cost management to catastrophe risk management.

As a subsidiary of Cinnober, one of the world’s leading clearing and trading technology providers, Simplitium has the stability and structure to ensure secure and reliable delivery of world class services that cover the entire transaction chain. For further information, please visit www.simplitium.com.