BIOS IT TAPAS takes care of MIFID II

BIOS IT recently attended the Intelligent Trading Summit where we showcased some of our leading edge, high frequency and low latency solutions for the finance industry, namely TAPAS and SuperFreq. A lot of conversations we had with attendees centered around MiFID II.

MiFID II, a successor to the original Markets in Financial Instruments Directive, will reshape almost all aspects of Europe’s financial markets. Potentially effective in 2017, the policy changes reflect how markets and technology have evolved. MiFID II aims to boost transparency and will fundamentally alter how equity, debt, derivatives and commodities are traded, cleared and reported throughout the European Economic Area. All banks, asset managers and trading platforms operating in the bloc will be affected

Bloomberg recently reported that MiFID II isn’t likely to apply in 2017 as scheduled, because the timing to finalize and implement the rules across all 28 EU countries is too tight. Accordingly, on Nov. 10 the European Commission proposed a year’s delay. The reason is that technical standards are unlikely to be in place by mid-2016, leaving national regulators too little time to implement the rules locally. More importantly, the EU securities regulator ESMA has insufficient time to build the IT systems integral to the new reporting rules.

Regardless of the likely delay in the MiFID II roll out, the good news is that our TAPAS appliance is perfectly suited to help organizations meet these new regulation requirements. The BIOS TAPAS (Trade Analysis and Packet cApture System) provides clients with nano-second-accurate monitoring of network and transaction latency, providing visibility and alerting on network congestion conditions, for both buy and sell side firms. Please contact usfor more info on TAPAS and our alternative high frequency, low latency solutions.