Our dedicated team ensured that all of our business areas that were affected by MiFID II / MiFIR were equipped and prepared for the 3rd of January.
We have open and ongoing dialogue with a large universe of our suppliers, providers, intermediaries and clients, helping to ensure any changes are deployed as smoothly and as expediently as they can be.
Here are answers to some frequently asked questions.
Our LEI is ZBU7VFV5NIMN4ILRFC23.
Our Firm Name is CANACCORD GENUITY LIMITED.
We will not be registering as an SI. Our business is conducted primarily by trading “off book-on Exchange”, meaning we will be reporting our executions to a Trading Venue.
We are a Market Maker and Liquidity Provider, as well as an Executing Broker. We will not be classed as a Regulated Market, an MTF or OTF.
We do not and will not Transaction Report on anyone’s behalf, but will be Transaction Reporting all of our trades with our clients pursuant to our own regulatory obligations. We will submit all of our reports under the ‘DEAL’ capacity and based on single block reports.
We will be passing relevant Tags on Fix Flow being handled by our hub on our connections, including Last Market and Liquidity Indicators as well as some Post Trade Indicators. We already mark up executions in milliseconds, and we will be able to accept and pass through Short Selling Flags. We will alsoensure we are compliant with relevant Investment/Execution Decision Maker fields for our reporting.
We have upgraded our existing Best Execution models and made full TCA and Best Ex Reporting available. We will also fully meet and publish our obligations under RTS 27 and 28 when required.
All EU-based institutions that are subject to MiFID II will need to pay separately for our Research from January 3, 2018. If you would like to discuss the various options available, please contact us.
For further information, please click on the link below.
MiFID II – Meeting the Challenges
We have reviewed and/or updated all policies and procedural documentation, including our Terms of Business, Client Categorisation and Execution Policies, to ensure full MiFID II compliance. They will be available from November 13, 2017.
Yes, we are receiving comprehensive, ongoing legal advice from a pre-eminent Global Financial Services law firm on all aspects of the Directive and Regulation. This advice is going to our internal Legal & Compliance function, external Project Manager, MiFID II Steering Committee, Senior Management and Board.
Please note the above is intended only as a high-level guide to some of the most frequent queries we receive. To the extent required, we will expand this document leading up to and post the implementation of MiFID II.
If you require further clarification or want to discuss something not mentioned here, please feel free to contact our MiFID II Implementation Team: MIFIDII@canaccordgenuity.com
How can we help?
If you would like to find out more about Canaccord Genuity or any of our services, please get in touch.