MiFID II
Overview
The Markets in Financial Instruments Directive (MiFID II) will enter into force on 3rd January 2018. It focuses on strengthening transparency and investor protection across the MiFID II regime via wide reaching changes to market structure, investor protection, organisational structure, and pre and post trade reporting.
MiFID II applies to those financial services businesses undertaking MiFID II business anywhere in the EU as well as those providing services cross-border. This includes investment firms, trading venues, data reporting service providers and third-country firms providing investment services or performing investment activities in or into the EU.
The GFI Group aim to continue to provide our services with as little disruption to our clients as possible. Our new venue structure is detailed in the table below. We do not currently plan to operate as an SI.
Name | Operating MIC | Segment MIC | Venue Type | Country |
GFI Brokers Ltd – MTF | GFIB | GFBM | MTF | UK |
GFI Brokers Ltd – OTF | GFIB | GFBO | OTF | UK |
GFI Securities Ltd – OTF | GFIC | GFSO | OTF | UK |
GFI Securities Ltd – MTF | GFIC | GFSM | MTF | UK |
Key changes to our services are listed below:
- The GFI group are repapering clients with updated Terms of Business, Venue Rule Books, Best Execution and Order Handling and Conflict Policies.
- From 3rd of Jan we will be unable to trade with an entity that has not provided us with a valid LEI. For more information on LEIs, please visit; http://www.gleif.org/en/.
- To meet our order record keeping obligations, we are required to collect trader short-codes from our clients to record the persons within the firm responsible for the decision or execution of trades.
- All client orders (including voice) are required to be recorded and retained at the disposal of the local regulator. Additional data will also be captured at point of order, after receiving a client order, and for operators of trading venues.
- Local Authority Clients are to be reclassified as retail from January 3rd. All Local Authority clients wishing to continue transacting with BGC Group must request to opt-up and meet the conditions as defined by the FCA and assessed by the Firm.
- Where applicable, clients can expect to receive disclosures of; all benefits (including ongoing benefits), unbundled ‘Research’ costs (as defined under MiFID II) and all costs and associated charges related to Investment/Ancillary services and Financial Instruments.
Equivalence granted between the US and EU regulatory regimes permits US persons to execute swap transactions subject to the CFTC’s trade execution requirement on our OTF. Please note that this equivalence does not exempt US persons from their part 43 and 45 reporting obligations which remains their responsibility. GFI’s OTF will not facilitate such reporting.
Our client outreach team is actively contacting clients to collate the information necessary for us to meet our regulatory obligations including LEIs and Trader short-codes. If impacted, you will also be provided with updated legal documentation via Bloomberg Entity Exchange.
GFI Brokers Ltd- Asset classes of financial instruments
GFI Securities Ltd- Asset classes of financial instruments
Best Execution and Order Handling Policy
Conflict of Interest Statement
Minor non-monetary benefits disclosures
Pre- and Post-Trade Transparency Reporting (RTS 1 and 2)
Best Execution Reports (RTS 27 + 28)
Trading Venue Notices
Articles 32 and 52 of MiFID II establish obligations on National Competent Authorities and trading venues relating to the suspension and removal (cancellation) of certain financial instruments from trading (and any subsequent restoration).
The FCA has received notification in relation to the instrument(s) in the table below and in accordance with sections 313CB/313CC of FSMA, the FCA requires action to be taken immediately with regard to trading on these instruments on all Regulated Markets, Multilateral Trading Facilities, Organised Trading Facilities and Systematic Internalisers in the UK.
We have received a request from the FCA to SUSPEND /RESTORE/ REMOVE the instruments (below) and any associated derivatives/other instruments from trading.
The Firm will suspend trading on all venues any financial instrument that is the subject of applicable sanctions imposed by any relevant global government organisation.
Issuer Name | ISIN | Action | Issuer | Effective From |
TECHNICOLOR CREATIVE STUDIOS | FR001400I939 | SUSPENSION | 54930064SP2SSEVKFJ48 | 2024-01-02T09:00:00Z |
MARE NOSTRUM | FR0013400835 | SUSPENSION | 9695001D0TLYAWZSX187 | 2024-01-02T09:00:00Z |
ESI GROUP | FR0004110310 | SUSPENSION | 969500SJCEYK6O6RXV95 | 2024-01-09T09:00:00Z |
ROVIO ENTERTAINMENT OYJ | FI4000266804 | SUSPENSION | 743700H95H3OPXDV6568 | 2024-01-12T07:42:40Z |
ITESOFT | FR0004026151 | SUSPENSION | 969500HZ36JO2ODTSW29 | 2024-01-12T09:00:00Z |
KAHOOT! ASA | NO0010823131 | SUSPENSION | 2549004957SZTRN8CW77 | 1/16/2024 8:03 |
EURONEXT GROWTH PARIS | FR001400C2Z4 | SUSPENSION | ENIBLOCK | 22/01/2024 09H00 CET |
PIERREL S.P.A. | IT0005549644 | SUSPENSION | 8156002BC7CB6E3BD403 | 1/16/2024 8:03 |
CASINO, GUICHARD-PERRACHON | FR0010154385 | SUSPENSION | 969500VHL8F83GBL6L29 | 24/01/2024 09:00 CET |
EURONEXT GROWTH PARIS | FR0013400835 | SUSPENSION | 9695001D0TLYAWZSX187 | 2024-01-02T09:00:00Z |
CASINO GUICHARD-PERRACHON | FR0010154385 | SUSPENSION | 969500VHL8F83GBL6L29 | 24/01/2024 09:00:00 |
HOTEL CHOCOLAT GROUP PLC | GB00BYZC3B04 | SUSPENSION | 213800B4D3J15PZHVY29 | 2024-01-25T07:30:00Z |
IDSUD | FR0000062184 | SUSPENSION | 969500RSUFGJP0GX2G45 | 26/01/2024 09:00:00 |
CASINO, GUICHARD-PERRACHON | FR0010154385 | SUSPENSION | 969500VHL8F83GBL6L29 | 24/01/2024 09:00:00 |
ADEUNIS | FR0013284627 | SUSPENSION | 29/01/2024 09:00 CET | |
DX (GROUP) PLC | GB00BJTCG679 | SUSPENSION | 213800LA2YGSOFIYIH95 | 2024-01-29T07:33:00Z |
ADEUNIS | FR0013284627 | SUSPENSION | 969500OLTWVI6246EZ48 | 29/01/2024 09:00:00 |
ALUFLEXPACK N | CH0453226893 | Stop Trade Range | AFP | 31/01/2024 08:00:00 |
PIXIUM VISION | FR001400JX97 | Suspension | 96950046OPLRLKKEOO08 | 31/01/2024 09:00:00 |
BIOSENIC | BE0974280126 | Suspension | 549300HFIIMTOP1DFR76 | 2/2/2024 9:00 |
Lehto Group Oyj | FI4000081138 | Suspension | 743700YEHY913ZDHNX66 | 6/2/2024 7:01 |
TALGO | ES105065009 | Suspension | 95980037JECHVQDJDT59 | 8/2/2024 15:52:00 AM |
BELIEVE | FR0014003FE9 | Suspension | 969500WGEAZ8YE4UAI86 | 12/2/2024 9:00 |
BELIEVE | FR0014003FE9 | Suspension | 969500WGEAZ8YE4UAI86 | 12/2/2024 9:00 |
SOCIETE POUR L’INFORMATIQUE INDUSTRIELLE | FR0000074122 | SUSPENSION | 96950044FWV7YEJCKR65 | 26/02/2024 09:00:00 |
Hydromash of Nizhny Novgorod OAO | NGRM | SUSPENSION | Explicit | |
Hydromash of Nizhny Novgorod OAO | NGRM | SUSPENSION | Explicit | |
Hydromash of Nizhny Novgorod OAO | NGRM | SUSPENSION | Explicit | |
Kamensk-Uralsky Metallurgical Plant OAO | KYMZ | SUSPENSION | Explicit | |
Kamensk-Uralsky Metallurgical Plant OAO | KYMZ | SUSPENSION | Explicit | |
Chelyabinsk Forge & Press Plant PJSC | CHKZP | SUSPENSION | Explicit | |
Chelyabinsk Forge & Press Plant PJSC | CHKZP | SUSPENSION | Explicit | |
Kamensk-Uralsky Metallurgical Plant OAO | KYMZP | SUSPENSION | Explicit | |
Kamensk-Uralsky Metallurgical Plant OAO | KYMZP | SUSPENSION | Explicit | |
224 Lo OAO | 5376041Z | SUSPENSION | Explicit | |
AGD Diamonds AO | 2006866D | SUSPENSION | Explicit | |
Arktik Spg 2 OOO | 1622599D | SUSPENSION | Explicit | |
Beks Ship Management and Trading SA | 1803836D | SUSPENSION | Explicit | |
Burilnye Truby OOO | 0350054D | SUSPENSION | Explicit | |
Cozum Yazilim Donanim Elektronik Ic Ve Dis Ticaret AS | 6114207Z | SUSPENSION | Explicit | |
Kompel ZAO | 5432041Z | SUSPENSION | Explicit | |
Kompel-SPB OOO | 7187869Z | SUSPENSION | Explicit | |
OEZ Ppt Alabuga OAO | 1247995D | SUSPENSION | Explicit | |
Sasta PAO | 8797033Z | SUSPENSION | Explicit | |
Stan OOO | 1245113D | SUSPENSION | Explicit | |
AGEAS SA/NV | BE0974264930 | SUSPENSION | 5493005DJBML6LY3RV36 | 28/02/2024 13:00:00 |
OPUS GLOBAL Nyilvánosan Működő Részvénytársaság | HU0000110226 | SUSPENSION | OPUS GLOBAL Nyilvánosan Működő Részvénytársaság | 29/02/2024 10:00:00 |
PHARNEXT | FR001400N1P4 | SUSPENSION | EURONEXT GROWTH PARIS | 06/03/2024 09H00 CET |
BELVOIR GROUP PLC | GB00B4QY1P51 | SUSPENSION | 213800FPT3JTZYB3FP61 | 2024-03-07T07:30:00Z |
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. | XS1395004580 | SUSPENSION | 815600EF740BA0904235 | 3/12/2024 7:53 |
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. | XS1395004580 | SUSPENSION | 815600EF740BA0904235 | 12/3/2024 7:52 |
JSA TECHNOLOGY | FR0010680033 | SUSPENSION | 969500X2F1QAFLKJ4110 | 12/3/2024 9:00 |
METABOLIC EXPLORER | FR0004177046 | SUSPENSION | 969500VI1GSBPGD9B460 | 12/3/2024 9:00 |
CLASQUIN SA | FR0004152882 | SUSPENSION | 9695004FF6FA43KC4764 | 12/3/2024 9:00 |
CASINO, GUICHARD-PERRACHON | FR0010154385 | SUSPENSION | 969500VHL8F83GBL6L29 | 13/03/2024 17:40:00 |
CASINO, GUICHARD-PERRACHON | FR0010154385 | SUSPENSION | 969500VHL8F83GBL6L29 | 13/03/2024 16:42:10 |
FORWARD PARTNERS GROUP PLC | GB00BKPGBB09 | SUSPENSION | 213800G3LF6776Y7IY64 | 2024-03-14T07:30:00Z |
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. | XS1395004580 | SUSPENSION | 815600EF740BA0904235 | 12/3/2024 7:53 |
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. | XS1395004408 | SUSPENSION | 815600EF740BA0904235 | 12/3/2024 7:52 |
Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Securities OTF (“GFSO”).
For further information, please contact: #compliancebgcuk@bgcg.com.
Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Brokers OTF (“GFBO”).
For further information, please contact: #compliancebgcuk@bgcg.com.
Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Securities MTF (“GFSM”).
For further information, please contact: #compliancebgcuk@bgcg.com.
Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Brokers MTF (“GFBM”).
For further information, please contact: #compliancebgcuk@bgcg.com.