NEX Optimisation expands Harmony messaging network for MIFID II
07 August 2017
London, New York, 7 August 2017 - NEX Optimisation, which helps clients reduce complexity and optimise resources across the transaction lifecycle, announces today that it has enhanced its existing messaging services to help clients prepare for the 3 January 2018 MiFID II go-live.
NEX Optimisation has extended Traiana’s Harmony messaging network to enable participants to exchange additional information to assist with meeting a number of regulatory obligations under MiFID II. This includes support for data elements associated with transparency, transaction reporting, venue execution, instrument and entity identifiers, timestamps, OTC post-trade indicators and unbundling of research and execution fees.
The enhancements follow a comprehensive review of the regulation in consultation with investment firms and industry working groups, to ensure that all information associated with the above obligations is supported. The MiFID II enhancement is being implemented across all asset classes supported by the Harmony network for bi-lateral, tri-party and cleared trading paradigms. Field reference guides are available to market participants now.
The MiFID II network enhancement programme follows previous initiatives to meet regulatory change for other jurisdictions including support for USIs and UTIs for CFTC and EMIR regulatory reporting respectively.
Steve French, Head of Connectivity and Messaging, NEX Optimisation, said: "It's clear from the level of interest and participation from existing clients that the Harmony network is key to helping firms satisfy a number of their regulatory requirements. NEX Optimisation is at the forefront of providing services to support MiFID II compliance."
These extensions to the Harmony network compliment a number of additional NEX Optimisation MiFID II regulatory services including: OTC derivative pre-trade limit checking for multilateral trading facilities, central counterparty clearing connectivity and transparency and transaction regulatory reporting via NEX Regulatory Reporting.
NEX Optimisation Leading the transformation of market structure, NEX Optimisation offers a portfolio of cloud-hosted services across the transaction lifecycle. Ranging from pre-execution credit checking to multilateral portfolio compression, our purpose is to simplify our clients’ workflow and help them optimise their resources. We are an integrated team of financial markets and pioneering financial technology specialists who operate in all asset classes, geographies and business sectors across the financial markets.
We are dedicated to mitigating risk, increasing efficiency, reducing costs and streamlining increasingly complex processes for our clients. We offer the opportunity to optimise both regulatory and financial resources. Find out more at www.nexoptimisation.com.
Traiana A NEX Group business, Traiana operates within NEX Optimisation which helps clients simplify complexity and optimise resources. We provide the world’s markets with regulatory reporting services that monitor pre-trade risk and automate post-trade processing of financial transactions for listed and over-the-counter trading. Our networks link market participants in high speed-to-market, real-time communication across the trade lifecycle, globally. Services, such as the Harmony Network, have become the market standard for post-trade processing in an increasing number of markets. For more information, go to www.traiana.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com