FIX Trading Community Launches Regulatory Subgroups in Mifid II Response

The six new subgroups have been established to allow industry participants to "collaborate on the most critical issues in this time of regulatory change," according to FIX Trading Community, including addressing regulatory technical standards proposed by the European Securities and Markets Authority (ESMA).

The subgroups will each take on responsibility for clock synchronization, reference data, transparency, best execution, microstructure, and order data and record keeping.

"FIX Trading Community believes that the application of appropriate standards can help to reduce the cost of regulatory change," says Matthew Coupe, director at Barclays and co-chair, EMEA, regulatory subcommittee at FIX Trading Community. "With the addition of these new subgroups, the community will directly target specific Mifid/Mifir regulatory technical standards and provide tangible guidelines that we believe will assist both the regulators and market participants."

Earlier this week the European Commission confirmed that it had no plans to delay the implementation of Mifid II regulation, scheduled to come into force in January 2017.