What's the reference data challenge?
To allow for the development of suitable risk models against risk exposure, and for the best value across the trading and investment cycle, market participants will have a complete overview of the entire non-equity trading lifecycle. The aggregation of market and reference data is key to ensuring this overview is made possible.
MiFID II mandates that, where applicable, non-equity instruments move on exchange.
In the new FICC environment under MiFID II, many of the inter-dealer and dealer-to-client platforms will have to formalize their status, either as a multilateral trading facility (MTF) or an organized trading facility (OTF), and, as such, will have to publish trade data in a consistent manner.
Whilst these platforms are not essentially new, the availability, type and volume of data will change and increase. A good example of this will be the granularity of time-stamp data against order and execution data. Trading venues can include regulated markets, MTFs, and OTFs.
How we help
How can Refinitiv help?
Aggregated MiFID II risk, liquidity, volume, additional pricing and referential content to support your analysis and reporting
We are the largest aggregator of financial data drawn from MTFs, OTFs and the regulated markets, and the world’s largest provider of financial reference data.
Experts in normalizing such information, we use unique identifiers and apply an open message model to manage and integrate multiple data sources. We then distribute data via our products such as Elektron, Datascope, and Eikon.
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Elektron Data Platform
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