Systematic Internalisers (SI)

BME Regulatory Services will put at their clients’ disposal a service for the identification and regulatory compliance of Systematic Internalisers. This service will include the monitoring for the identification of a client as an SI for each financial instrument, sending an alert when approaching or reaching the thresholds established by the new regulation, and will cover pre and post transparency requirements, publishing through the APA trades and firm quotes of the instruments for which the client is an SI.

This service will provide compliance with all obligations imposed on SIs, including:

  • Drafting and submission of Reference Data reports to the Competent Authority.
  • Verification of quotes aligned to market conditions in relation to prices at which transactions are concluded for the same or similar instruments on a trading venue.
  • Best execution report drafting.

Benefits:

  • Increased efficiency and lower risk through a single-access point.
  • Access to dashboard.
  • Availability for all firms, both market members and non-members.
  • Warning system to alert firms in case they reach the thresholds established for SIs.
  • Coverage of all instruments under MiFID II.
  • Expertise in financial legislation and adaptation to changes.
  • High-end technical assistance.

BME Regulatory Services will provide its clients with a dashboard, which will offer an overall view of their degree of compliance with their transparency and reporting obligations, creating an easy and integrated way to manage and supervise all aspects related to regulation compliance.

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