TheLondon Stock
Exchangehas started a detailed consultation
on the services it plans to offer member firms to assist their
compliance with the EU’sMarkets in Financial Instruments (Mifid)
Directive.
Built on the next-generation technology of the Exchange’s new
TradeElect Platform, the services will provide member firms with a
familiar market model for meeting Mifid’s requirements, using
proven connectivity and infrastructure.
Pre-trade transparency requirements will be met through the
extension of market-maker quoting facilities across the full range
of EU securities, and post-trade transparency requirements will be
met through enhancements to the exchange’s existing trade reporting
services.
Martin Graham, director of markets at the London Stock Exchange,
said, “The London equity market has a strong advantage in Mifid,
reflecting the fact that the directive mirrors the open
architecture and competitive environment in which London and the
London Stock Exchange have grown.
“With new market leading technology, an enhanced suite of
trading services and an attractive new tariff structure, we look
forward to working with our clients throughout Europe and to build
on London's leading role in market development.”
The consultation document outlines the changes that the exchange
will make to its services to enable member firms to comply with
MifidD requirements in several key areas, both pre-trade and
post-trade.
Information on the consultation and the different reporting
systems to be used.
LSE tests TradeElect
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