27 May 2018

BME adapts fixed income platforrm for MiFID II

25 October 2017  |  2382 views  |  0 Source: BME

BME has adapted its Fixed Income market so that intermediaries and brokers can transfer all their operations to the regulated market and comply with the new disclosure and reporting requirements required by MiFID II – which will come into force in January.

The new legal framework streamlines the migration of bond markets to regulated markets, with greater and better information on each transaction and enhanced powers for supervisors. The main objective of MiFID II and the regulation that develops it, MiFIR, is to increase transparency, promote more orderly markets and improve the participants’ systems for reporting to supervisors.

"BME is prepared to offer market members and their clients the routing, trading and trade reporting services to ensure the best compliance with MiFID II in the area of Fixed Income," said Jorge Yzaguirre, Markets Director of BME.

The securities listed on the main European Public Debt markets (Germany, Italy, etc.) will be added to BME’s Fixed Income market and will be grouped together with all securities admitted to trading on the Spanish market. All the issues made by the Spanish Treasury are already traded on BME’s regulated market with very narrow spreads, allowing the execution of trades from 1,000 euros. All this means the possibility of trading around 2,680 Fixed Income references.

For illiquid bonds, BME offers the option to operate based on expressions of interest. Once the transaction is closed, the customer receives confirmation and the market takes care of all the disclosure functions under the new regulation.

With these adjustments BME’s Fixed Income Market can cover the needs of the members and their clients so that they do not have to resort to the over the counter (OTC) market.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit response.ncr.comVisit aciworldwide.webex.com

Who is commenting?

Top topics

Most viewed Most shared
satelliteAnt Financial provides tech for China Ever...
29032 views comments | 3 tweets | 2 linkedin
Digital banking transformation creating new systemic risksDigital banking transformation creating ne...
8957 views comments | 18 tweets | 26 linkedin
MUFG to roll out blockchain payment network next yearMUFG to roll out blockchain payment networ...
7629 views comments | 13 tweets | 13 linkedin
There are some things you just can't do with an appThere are some things you just can't do wi...
6902 views comments | 9 tweets | 15 linkedin

Featured job

(GBP Equivalent) Six-Figure Base + OTE + Benefits
New York City, NY - USA

Find your next job