MiFID II requires firms to plan for client engagement. Any changes to execution policy, research and risk will need to be disclosed with client consent and a clean audit trail. Bloomberg's Entity Exchange delivers a fast, efficient and flexible service to meet this need.
Bloomberg is helping the buy side implement solutions on the provision and receipt of investment research stemming from the implications of MiFID II — one of its key objectives being to unbundle research from execution. This means firms that will not be able to accept non-monetary benefits in relation to research and will have to be selective about what services and products are procured. Alongside this, buy-side firms will be expected to manage, monitor and evaluate their consumption, as well as allocate budgeted amounts to providers of research.
Bloomberg’s current entitlement platform and reporting provide visibility into the providers and content that you have access to. In addition, we will provide the ability for buy-side administrators to control the entitlement requests for their users to access any new research provider or content that they are not currently subscribed to; provide greater flexibility and granularity to the content that a provider packages for clients; and the mechanism for the buy-side to request bespoke packages of content.
Bloomberg solutions include:
Bloomberg will consume and publish the data required as input to the transparency decision making process: liquidity, SI status, trade thresholds. Bloomberg will also consume and create composites and analysis from the price transparency data output by other APAs and trading venues. Both input and output data will be available on the Terminal and via data feeds.
In order to operate efficiently in this new environment, firms will have ensure their workflows are capable of providing the necessary data forall the reporting requirements they will have to fulfill, as well as for surveillance and reconstruction of trades on demand from their regulator.
Bloomberg’s Asset and Investment Manager (AIM) buyside OMS has a proven track record of supporting firms to meet regulatory mandates.It is being extended to help firms meet their
MiFID II requirements with a strategic enterprise workflow across the entire trade lifecycle.