MiFIR (Markets in Financial Investments Regulations) aims to establish transparent financial system by enhancing regulatory requirements.
The European commission published two proposals –
- The revised Markets in Financial Instruments Directives (MiFID II) along with
- Markets in Financial Investments Regulation (MiFIR)
Products will be reported under MiFIR includes –
- Cash Equities, Bonds, Indexes, Equity
- The number of reportable products has been extended to include FX, interest derivatives. And Commodity Derivatives (OTC & ETD) and will also encompass a number of North American Instruments listed on MTFS
MiFIR reporting obligations are set to go Live on 3rd-January 2017 and same is set in place under Prism’s future roadmap.