22 October 2017
visit www.atos.net

TP ICAP appoints Bloomberg Entity Exchange for key MiFID II compliance role

24 July 2017  |  2642 views  |  0 Source: TP Icap

TP ICAP, the world’s largest interdealer broker, has selected Bloomberg Entity Exchange as the chosen platform to help clients register onto new trading venues operated by its broking businesses, including Tullett Prebon and ICAP.

TP ICAP firms have applied to operate Organized Trading Facilities‎ (OTFs) under the MiFID II regulatory regime. MiFID II, which applies across the European Union from 3 January 2018, requires operators of OTFs and other trading venues to collect information about venue users and transactions. It also prescribes information to be given to venue users, including risk disclosures.

Bloomberg Entity Exchange is a secure, web-based electronic platform, which will provide an environment to centralize the exchange of information required by the new rules. ‎It will also facilitate the distribution and management of venue-related documentation, such as rulebooks and policies, as well as contractual documentation.

Nicolas Breteau, Chief Executive, TP ICAP Global Broking, said: “We are pleased to have agreed this partnership with Bloomberg Entity Exchange, which will help ensure we simplify the repapering process for our clients in our preparation for MiFID II, a regulation which will have far reaching implications for the industry we operate in.

“MiFID II will impose significant requirements on firms to share and collect data from their clients. We want to help our clients to quickly understand what the new rules will mean to their trading relationships, especially around trade execution, reporting and transparency. Partnering with Bloomberg provides us with the opportunity to offer clients and trading partners a combination of innovative technology and dedicated client service.”

”Entity Exchange enables the secure and efficient exchange of information and documentation required for TP ICAP to provide execution services to its customers in compliance with MiFID II," said Dan Matthies, Global Head of Bloomberg Entity Exchange. "The adoption of Entity Exchange by a globally recognized player such as TP ICAP, and hundreds of brokers and buy-side firms around the world, shows it is satisfying an unmet need for smarter technology to facilitate regulatory compliance without causing significant disruption to workflow."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Bloomberg

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14506 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13061 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9789 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9676 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8796 views comments | 9 tweets | 18 linkedin

Featured job

circa £250K total package
London

Find your next job