Investing in the stock market can be a laborious task. Reading the latest research, calling up your broker, watching the latest trends on financial TV channels, subscribing to the Financial Times or reading Investment Week or Investors Chronicle. What if you as an investor could have access to more than just the companies listed on the FTSE 100, FTSE 250 or FTSE 350?
One example is the requirement for trading venues to record and check vast amounts of data — some of which will come from the venue’s users, who will all need an internationally-recognised unique 20-character number known as a Legal Entity Identifier.
Complying with this rule is then complicated if you are trading via an Asian, rather an EU-based entity. “In that case, reporting requirements fall to us, which requires collection of personal data,” says Ben Pott, head of European affairs at Nex Group, which operates a bond and currency trading venue in London.
European firms’ preparations for Mifid II in January 2018 will likely be hit by the introduction of new European reporting standards just two months earlier, the head of regulatory reporting at Nex Group has warned.
NEX Group’s regulatory reporting business has chosen to set up operations in Sweden to ensure it can continue to provide services to firms in the European Union once the UK leaves the bloc.
NEX Regulatory Reporting, which helps banks and investors meet new regulations, chose Stockholm because of NEX’s existing presence in the city.