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The identifier challenge: Attributes of MiFID II that cannot be ignored
Journal of Securities Operations & Custody,
9
(4),
313-320
(2017)
Abstract
Much has been written about the revised version of the EU Markets in Financial Instruments Directive (MiFID II), which is scheduled to be implemented in January 2018. Now, however, the data aspects of MiFID II are receiving more attention, and firms are particularly focused on some of the data standards choices that regulators have imposed for the first time in MiFID II. Managing the identifiers for financial instruments and entities is central to this challenge, and is one of the core requirements for firms MiFID II compliance.
Keywords: identifier; data; International Organisation for Standardisation (ISO); financial instrument global identifier (FIGI); standards; MiFID II
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Author's Biography
Richard Young joined Bloomberg in September 2015 in an industry and regulatory relations role in global data. This role includes industry and regulatory outreach on the data aspects of Bloomberg’s services for MiFID and other related regulatory initiatives, with a special emphasis on key identifiers such as financial instrument global identifier (FIGI) and legal entity identifier (LEI). Prior to joining Bloomberg, Richard spent 20 years with the financial messaging and standards body—SWIFT, where he held a variety of roles in sales and marketing. Most recently Richard was head of regulatory affairs at SWIFT, where he contributed to the development of new services arising from regulatory change.
