Reuters first MiFID solution for data publication goes live to clients
LONDON – Reuters (LSE: RTR; NASDAQ: RTRSY) today announced the launch of Reuters Trade Publication (RTP), the first of three solutions that will enable clients to meet their vital regulatory requirements under the Markets in Financial Instruments Directive (MiFID) from 1st November.
After that date all investment firms will have to publish data on any trading activity that does not take place on an exchange or a Multilateral Trading Facility (MTF) immediately after a trade is done. Reuters Trade Publication will provide an independent and cost effective mechanism to help both buy-side and sell-side firms to meet this obligation.
Following this first release Reuters will launch two other capabilities – developed in consultation with major customers - before November to allow clients to be fully MiFID compliant. Future releases will allow users to:
see the best aggregated price and all trading activity for a stock, even when it is traded on more than one exchange or other execution venue
help clients to check that best execution has been obtained for a trade via Transaction Cost Analysis (TCA)
Under the MiFID regulations investment firms will be required to execute trades efficiently, publish that information and show that best execution was obtained for clients.
Stephen Wilson, Global Head of Exchange Traded Instruments at Reuters said “Reuters Trade Publication is the first of three major solutions Reuters will release over the coming months. MiFID has substantial ramifications for the financial markets and Reuters is working with market participants and regulators to ensure that our clients are able to meet their MiFID requirements on time.”
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