At the FIA IDX 2017 conference this week, Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA), the major European regulatory body, announced that there will be no further delays to the deadline of January 2018 for implementation of MiFID II.
MiFID II requirements affect all firms trading European securities but also have far reaching consequences to the industry in general. Leading capital markets research firm Tabb Group’s, recently published report, US Institutional Equity Trading Study 2017: In the Eye of the Storm, found “with three-quarters (76%) of investment managers facing upcoming MiFID II requirements, it was not surprising that 90% of the firms we spoke with have initiatives underway not only to comply with the requirements, but to use compliance to better position themselves for growth under the circumstances. Many mentioned that their top priority for the year was just coming to grips with MiFID II and “getting smarter” about what changes are in store for them next year, whether in terms of execution, transaction reporting or research unbundling.”
Connamara is engaged with several firms to assist in meeting the MiFID II timeline and as the deadline approaches is gearing up to assist others in navigating the evolving regulatory landscape.
To find out more, please contact Connamara at info@connamaracom
About Connamara Systems, LLC Connamara Systems, the premier provider of matching engine technology for startup and frontier exchanges and co-originator of the industry standard open-source QuickFIX FIX engine, provides software engineering services exclusively to the capital markets industry. Connamara practices Agile software development and project management methods and has over 19 years of experience successfully delivering complex, distributed systems to the most demanding customers in the financial marketplace. Visit www.connamara.com for more information.