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ES - Fixed Income platform adapted for MIFID II in Spain

18/01/2018

On 25 October 2017, the Spanish exchange group (BME), has announced changes to its Fixed Income market that enable intermediaries and brokers to transfer all their operations to the regulated market and comply with the new disclosure and reporting requirements required by the revised Markets in Financial Instruments Directive (MiFID II).

On 25 October 2017, the Spanish exchange group (BME), has announced changes to its Fixed Income market that enable intermediaries and brokers to transfer all their operations to the regulated market and comply with the new disclosure and reporting requirements required by the revised Markets in Financial Instruments Directive (MiFID II). The new Fixed Income market model streamlines the migration of bonds markets to the regulated markets, with enhanced reporting on each transaction and powers for supervisors. BME will add the securities listed on the main European Public Debt markets (Germany, Italy, etc.) to its Fixed Income market and group them together with all securities admitted to trading on the Spanish market. For illiquid bonds, BME offers the option to operate based on expressions of interest. Once the transaction is closed, the customer receives confirmation and the market provides all the disclosure functions under MiFID II. Through these adjustments BME aims at covering the needs of its members and clients so that they do not need to use the over the counter (OTC) market.

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