The directive aims to set a legal base in order to enhance coherence and transparency in the European financial market. MiFID will focus on the following four aspects:
Core tasks of data providers
Global data providers such as SIX Telekurs are not directly affected by MiFID. In other words, they are not required to meet any specific rules on the provision of financial information. However, that does not mean they can simply sit back and watch as the directive takes effect. On the contrary, a global data provider must evaluate the impact on various types of financial information and structure its data offering to meet the needs of customers and other market participants.
The impact on data management is already becoming apparent. For example, the new reporting requirements mean that reference data must be structured professionally and in compliance with MiFID, forcing financial firms and thus their global data providers to review their data strategy.
Further information
on MiFID:
Data offering
Links
E-Mail
Read also the following documents:
Time for a MiFID for corporate actions? (Article by Richard Newbury, in realtime 03/07)
MiFID and fragmentation: a challenge to be embraced, not feared (Article by Will Meldrum, in realtime 03/07)
Telekurs Financial supports implementation of MiFID with comprehensive range of reference data (Media release, 21.11.2007)
Under the MiFID Spotlight: Reference and Market Data (Article in realtime 02/07)
MiFID - A Data Vendor's Perspective (PDF, 145 KB)
MiFID: Point of View and Data offering by Telekurs Financial (Supplement to realtime 01/07)