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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.



    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“.


    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

    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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    Update: XML Report Manual

    Please note, that the message rate report (Eurex: TR902) was amended in structure and calculation methodology. Three new fields will be provided in order to account for the member’s maximum ratios, other fields will reflect an amended calculation methodology.


    For further detailed information about the changes and amendments also reflected in the XML Report manual please have a look here.

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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

    -

    -

    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.

  • 詹皇通知骑士队 准备与其续约 2019-04-18
  • 正确看待我国社会主要矛盾转化 2019-04-14
  • 天眼!国产警用安防无人机先进技术发布 2019-04-13
  • 【央视快评】让传统文化焕发新时代风采 2019-04-11
  • 黎昌仁:企业社会责任与企业发展能够形成良性互动与共赢 2019-04-09
  • 【高清组图】纽约迎来第40届“第五大道博物馆节” 2019-04-09
  • 普京力挽狂澜,从北高加索平叛到格鲁吉亚兴兵,从克里米亚回归到叙利亚反恐,给了俄罗斯人民新生——这一切都是和中国同志的支持分不开的。 2019-04-06
  • 西藏职业技术学院全面推进毕业生就业创业 2019-04-03
  • 《四部医典》入选《世界记忆亚太地区名录》 2019-03-30
  • 阿根廷队主帅桑保利:这不会是梅西最后一届世界杯 2019-03-30
  • 江西暴雨袭来白昼如夜 乌云密布似大片 2019-03-25
  • 亚冠前瞻:恒大权健皆不容有失 两将伤情成上港争胜关键 2019-03-24
  • 中国梦大国工匠篇——治国理政新实践山西篇系列专题——黄河新闻网 2019-03-23
  • 富蕴县完成12个文化旅游项目集中签约 2019-03-22
  • 以习近平人才思想为指导建设企业人才高地 2019-03-22