The Markets in Financial Instruments Directive (MiFID) is the EU legislation that regulates firms who provide services to clients within the financial instruments field – such as shares, bonds, units in collective investment schemes and derivatives. It also covers the venues where those instruments are traded.
MiFID was introduced in the UK in 2007 and was later revised by MiFID II, which came into effect in January 2018. Its aim was to improve the functioning of financial markets in light of the financial crisis and to strengthen investor protection.
The MiFID II regulations mandate that trading venues and their members/participants establish and demonstrate a system of traceability to Universal Co-ordinated Time (UTC). There is a requirement to synchronise the business clocks used to record the date and time of any reportable event and that reviews of compliance must be performed yearly.
Edge Networks have partnered with APC Time, experts in the delivery, design, specification and distribution of specialist timing and synchronisation systems and connectivity products, to bring clients within the financial industry a way to prove compliance.
Proving compliance requires specialist test equipment, knowledge of timing networks and the associated infrastructure. The MiFID II certification service ensures that all relevant systems and documentation are compliant, ensuring resilience and traceability, backed up with full certification for 12 months.
With over 15 years’ experience, access to specialist test equipment and unrivaled knowledge of timing networks, the certification service is second to none in this arena.
The new service is an ideal bolt-on to the existing Timing SLA service, launched in June. Together, both services offer a cost-effective, long-term approach to network auditing and compliance.
For more information about the new MiFID II certification service contact us on +44 (0) 3333 111 400 or firstname.lastname@example.org