Deutsche Börse announced Wednesday that it has been awarded ‘trade data monitor’ status by the British Financial Services Authority (FSA) for its OTC post-trade transparency service, which the firm says enables investment firms to ensure post-trade transparency for off-exchange equity transactions in accordance with MiFID. The FSA is the only supervisory authority to issue a special certificate as a trade data monitor.
"Receiving trade data monitor status from the FSA increases the attractiveness of the MiFID OTC post-trade transparency service, especially for our British clients," says Holger Wohlenberg, managing director, market data and analytics, Deutsche Börse.
With effect from 1 November 2007, when MiFID is implemented, European investment firms will be required to publish their off-exchange purchases and sales of shares traded on a regulated market in the European Economic Area. When this data is published in real time, quality standards must be adhered to for the publication process as well as for the system infrastructure used.
The MiFID OTC post-trade transparency service enables clients to publish their OTC transactions that are subject to these requirements via Deutsche Börse at a minimal expense and in compliance with MiFID, according to the firm.