Post-trade reporting and appropriate regulatory deferrals under MiFIR will commence as of 00:00 UTC on 3 January 2018.
We have enhanced our Multilateral Trading Facility (MTF) to meet MiFID II customer execution requirements for FX derivatives.
In accordance with the implementation of MiFID II – and with it a varied market structure – MTFs must adhere to new rules and requirements that affect reporting, record keeping, systems and controls effective from January 2018.
Under MiFID II, we operate FXall QuickTrade (our independent electronic foreign exchange trading platform) as an MTF, along with Forwards Matching.
- We support FX Forwards, swaps, NDFs and options via FXall request-for-quote (RFQ). Spot Matching has been removed from the MTF, while Forwards Matching remains for swaps.
- We have published an updated MTF rulebook, and have released new GUI versions of FXall and FX Trading to accommodate required data fields.
MTF reporting obligations
- We meet our obligations as an MTF operator for Trade Reporting by reporting all MTF deals in real-time to an Approved Publication Arrangement and by transactions reporting deals done by non-MIFID authorized firms at T+1 to the Financial Conduct Authority.
- To help you with reporting and record keeping requirements, we have bolstered our post-trade straight-through processing (STP) feeds to accommodate new data fields.
- We will meet our obligations as an MTF operator for Trade Reporting (real-time to an Approved Publication Arrangement) and transactions reporting (T+1 to the Financial Conduct Authority).
- To help you meet your reporting and record keeping requirements, we are bolstering our post-trade straight-through processing (STP) feeds to accommodate new data fields
- MiFIR requires financial firms executing transactions in financial instruments to report details of the transactions to the national regulators
- Transaction reporting to be completed no later than following working day: T+1
- Clients should seek advice from their own Compliance teams on what their specific obligations are.
Features and benefits
- FXall QuickTrade – a multi-bank RFQ for swaps, forwards, NDFs and options
- Forwards Matching – a FX swap central limit order book
- Post-Trade STP – enhanced post-trade STP feeds with additional MiFID II data fields facilitate customer reporting and record keeping requirements
- Leverage one platform for trading FX spot, forwards, swaps, NDFs and options electronically with MTF, SEF and off-venue execution
- Trade via FXall RFQ or Matching central limit order book (CLOB)
- Access deep liquidity from over 160 banks and 1,700 clients
- Streamline your workflow with pre- and post-trade STP
- Achieve best execution on a regulated platform incorporating pre-trade checks for price, size and volatility