Data providers wrestle with systematic internaliser status
Covering 80% of venues is considered enough to approximate total market size under Mifid II
Providers of reference data services are grappling with the number of venues they must plug into for dealers to determine whether they are systematic internalisers (SIs) under the revised Markets in Financial Instruments Directive (Mifid II).
Mifid II and its accompanying regulation, Mifir, will apply to European Union financial markets from January 3, 2018. Dealer banks will be classified as SIs if they meet a certain market share threshold, defined by the European Securities and Markets
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