New Symbology Data Feed for Compliant MiFiD Transaction Reporting

15 July 2008

FOW TRADEdata today announced the availability through its Xymbology service of Alternative Instrument Identification (AII) symbology for prescribed European futures and options markets under MiFiD’s mandatory transaction reporting requirements.

The more extensive requirement under MiFiD to passport transaction records across and to view concentrated trading within EU jurisdictions demands not only uniform instrument symbology, but also its consistent application along the reporting chain. The adoption by the industry of the AII as an enriched data field for key markets facilitates this process within an automated environment cap able of handling current and predicted substantial increases in trade volumes.

Mark Woolfenden, Managing Director at FOW TRADEdata said: “FOW TRADEdata has for many years provided mandatory transaction data for exchange listed futures and options to both the regulator and UK regulated parties. The AII and other related instrument attributes from FOW TRADEdata offer a robust solution to all participants across the EU charged with delivering MiFiD compliance for listed futures and options.”

Gregg Whitbread, Product Manager for Xymbology said: “Clients using the existing range of Xymbology products have already reduced costs through more efficient transaction processing and have gained tangible competitive advantage in the market place. The addition of the AII code to the service provides Competent Authorities, Approved Reporting Mechanisms and trading firms with the symbology required for transaction reporting on AII Markets mandated under MiFiD.”

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