Derivatives exchange operator Eurex has almost finalised its preparations for MiFID II and has scheduled technical implementation of the requirements for December.
Eurex explained market participants gained access to a simulated trading environment earlier this month as a means of adapting to the new rules prior to the deadline.
“The industry currently undergoes the gargantuan task to oblige to the deadline”, says Randolf Roth, member of the Eurex executive board. “We support the market to be able to cross the finish line ribbon.”
Several services have already been established by the exchange group in preparation for MiFID II, including its request for quote (RFQ) platform.
The platform allows banks and brokers to connect with market makers with RFQs to find a trading counterparty.
Eurex said it has aimed to address the market’s need for transparency and process efficiencies ahead of the January 2018 MiFID II deadline.