BME will broaden and strengthen its range of services for MiFID II / MiFIR compliance by financial market participants. To this end it will act as an Approved Publication Arrangement (APA), Authorised Reporting Mechanism (ARM) and will manage the Systematic Internaliser (IS) regulatory compliance service.
These agents and services are part of the new regulation established by the MiFID II European Directive, which will enter into force in January 2018.
One of the main services arising from the new regulation and provided by BME will be the Approved Publication Arrangement (APA), which will help financial institutions to fulfill their post-trade transparency obligations. Through this service, BME will publish details of its clients’ OTC transactions through the Group's information dissemination services.
The newly created Systematic Internalisers (SI) service will allow the identification of investment firms as SI for each instrument and the publication of the firm quotes in respect of the instruments for which the customer is an SI.
In addition, and acting as an Authorised Reporting Mechanism (ARM), BME will provide a communication service to the competent authorities on the details of their clients' transactions in the required formats by the regulation. This service is the evolution of the current Transaction Reporting Service (SIO) offered by BME in compliance with MiFID I.
These services, as well as others that were being provided by the Group, such as the Integrated Financial Reporting Service (SIR) and the Integrated Service for the Prevention of Market Abuse (SICAM), will be provided by BME Regulatory Services, acting as a one-stop shop.
The Market Status informs through quick and easy-to-read notices on incidents affecting the Equity, Derivatives and Fixed Income markets as well as Indices and financial systems operated by BME.
If an issue occurs, the message "TRADING" will change to "MARKET ISSUE" to reflect that a market event has occurred. By clicking on the Issue of the published alert it will be possible to access the information and intraday updates associated with this incident, which will be published immediately.
Note: BME will use its discretion to assign the severity of an incident