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  • Service Navigation

    MiFID II/MiFIR

    MiFID II/MiFIR

    Impact on the derivatives market

    The revised Markets in Financial Instruments Directive (MiFID II) and the accompanying Markets in Financial Instruments Regulation (MiFIR) regulate the provision of investment services in a multitude of financial instruments at regulated trading venues as well as in OTC trading.


    Eurex has taken MiFID II as an opportunity that goes far beyond solving regulatory issues. Find out more.

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    The new legal framework has been applicable since 3 January 2018.?

    Eurex worked towards achieving full MiFID II compliance well ahead of the application date. Any technical changes required to achieve compliance with the MiFID II/MiFIR regulations were implemented with the T7 Release 6.0. This release went live on 4 December 2017. Please refer to the “Eurex Exchange Roadmap 2017 – Timeline” presentation for full details. More information about all T7 Release 6.0 introduction details also covering non-MiFID II related scope items are provided here:
    //www.t-rna.com/exchange-en/technology/t7

    Apart from the technical changes required to ensure MiFID II compliance, this website will keep you also fully informed on all MiFID II related changes in Eurex systems and processes that might impact market participants. For further regulatory information, please also visit our Deutsche B?rse Group website.

    All Eurex Exchange's MiFID II/MiFIR? & T7 release 6.0 readiness news are published here. In case you want to align on the implementation of MiFID requirements or have further information needs, you may contact our dedicated MiFID II project team via [email protected]. You can, of course, also always contact your Key Account Manager.

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    Reporting

    With MiFID II/MiFIR the reporting obligations for trading members as well as for trading venues have increased tremendously. In this section, we will provide you with information about the new reporting requirements.

    Details about the upload of Short Codes and Algo IDs can be found under the section ?Client & Member Reference Data“.

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    Deutsche B?rse MiFID II regulatory reporting solution

    To comply with the MiFID II/ MiFIR reporting obligations, Deutsche B?rse Group has created the Regulatory Reporting Hub (RRH). The RRH offers a wide range of services, which will help members to meet regulatory obligations. Further information can be found here.

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    Third Country

    With the application of DIRECTIVE No 2014/65/EU (revised Markets in Financial Instruments Directive (MiFID II)) and REGULATION No 600/2014/EU (the associated Markets in Financial Instruments Regulation (MiFIR)) on 3 January 2018, the scope of trading activities requiring authorisation as investment firm has been extended.

    In this section, you will find detailed information about the requirements for third country firms.

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    Transparency

    MiFID II/MiFIR updates the pre- and post-trade transparency regime for shares and ETFs introduced with MiFID I and introduces a mandatory pre- and post-trade regime for non-equities.

    Based on the Regulation (EU) No 600/2014 (MiFIR) supplemented by the Delegated Regulation (EU) 2017/567 (RTS), additional obligations for the publication of market data became effective 3 January 2018. For market data Price List including disaggregated information, Cost Allocation Methodology and further required information on product content, please refer to "Agreements" on the Market Data + Services website.

    Market-Making

    With MiFID II the regulatory framework for Market-Making has been further enhanced. As of 3 January 2018, Market-Making is covered under public law. Market Makers will need to be formally admitted at Eurex as Regulatory Market Maker. Eurex will keep the current model for commercial Market Maker incentives (rebates) that operates under a civil law framework. This model will be renamed Liquidity Provision.
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    HFT/Algo

    With the application of MiFID II/ MiFIR on 3 January 2018, Eurex has implemented a variety of IT requirements in order to comply with the regulatory obligations set out for Algorithmic Trading and HFT in the Delegated Regulation.

    The requirement that trading members using algorithmic trading technology identify the orders they submit algorithmically to the national competent authority was already introduced with the German HFT Act in 2013. With MiFID II this systematic changes. Now, not only the execution but also the investment decision made by persons and algorithms must be identified accordingly.

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    Client & Member Reference Data

    To comply with the MiFID II reporting obligations, trading participants will have to provide reference data to the trading venues. In this section, you will find several guides, which explain how to provide the respective data to Eurex.

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    Eurex EnLight - the selective RFQ platform


    Eurex has taken MiFID II as an opportunity that goes far beyond solving regulatory issues. Find out more.

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    Contacts

    If you have any questions or require further information, please contact your dedicated Key Account Manager.
    You have questions, wishes or suggestions? Write us a message!
    customer.readiness
    @www.t-rna.com

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    Market Status

    XEUR

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    Parts of the trading system are currently experiencing technical issues

    The trading system is currently experiencing technical issues

    Production newsboard

    The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

    We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

    An instant update of the Market Status requires an enabled up-to date Java? version within the browser.

  • 我国纳米核心技术取得重大突破 2019-02-17
  • 9年过去了 男子网坛还是费纳的天下 2019-02-17
  • 2018国际消费电子产品展 2019-02-14
  • 阿联酋计划向火星发射无人飞船 刷新阿拉伯太空史 2019-02-10
  • 国家统计局:5月一线城市房价同比持续下降 二线城市有所上涨 2019-02-02
  • 医疗专家入藏 免费治疗患儿 2019-01-29
  • 2018春运开启再读冰心莫言冯骥才笔下的“春运记忆” 2019-01-29
  • 《超人总动员2》刷新动画片北美首周末票房纪录 2019-01-29
  • 涉嫌诈骗1200万 潜逃韩国8年逃犯归案 2019-01-27
  • 桐庐县:互联网+社会治理的小县“大”思路  2019-01-21
  • 中央军委印发《传承红色基因实施纲要》 2019-01-18
  • 财政部发布五月份全国财政收支情况 2019-01-08
  • 江汉区国税局四个抓手助推内控机制建设不断深化 2019-01-08
  • 到户就不是计划经济,统一经营坚持集体的是计划经济。 2019-01-05
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