Cesarz_SI
Module of the Cesarz system dedicated to the fulfilment of requirements imposed by the MiFID II Directive, in terms of systematic internalization.
Cooperates with Cesarz_MiFIR and Cesarz_BE modules of Cesarz system.
Who have we created the system for?
The banks/ investment firms.
Verification of the SI status is obligatory for every bank/ investment firm. Determination of a bank’s/ investment firm’s status as a systematic internaliser (“SI”) on an adequate level of grit (e.g. for derivative transactions – on subclasses in accordance with the definition in RTS, Appendix 3, Tables 2.1 – 13.1.), basing on a firm’s source data as well as market data, in order to facilitate proper regulatory reporting.
Obtaining the SI status results in requirements determined by MiFID II/ MiFIR.
SI status-related obligations
– Verification of the SI status every 3 months, based on the number of volumes of transactions on one’s own account and every 6 months for transactions on a client’s account,
– Informing one’s national supervisory authority of changes in the SI status (date, list of instruments),
– Concerning liquid instruments:
o publication of transaction quotas in APA,
o sharing pre-transactional quotas with clients for the purposes of pre-transactional transparency,
o implementation of a client-protecting, anti-discriminatory policy concerning clients’ access to the above-mentioned quotas.
– Enhancement of the scope of post-translational publications to APA in case of obtaining an SI status (in case of cooperation between an entity with an SI status and without it the SI is to be published by the prior),
– For non-liquid instruments: sharing – on a client’s demand – information concerning her/his informational quotas,
– Reporting of the referential data of new financial instruments in accordance with the RTS 23 to the national supervisory authority,
– Publication of reports on the quality of orders’ execution (RTS 27).
Cesarz_SI – key benefits of module’s operation
Automatic calculation of the SI position for every subclass
Automatic assignment of a subclass for every transaction
Automatic status determination of every transaction during the publication
Functionalities of the Cesarz_SI module
Data import from the source systems
Import of information concerning liquidity status of given financial instruments
Adjustment of Si status grit in accordance with RTS2 and ESMA guidelines
Enabling manual actualisation of the SI status in GUI, based on a bank’s/ investment firm’s decision
Management of statuses of transactions excluded from calculations basing on information
Market data import from ESMA FITRS base
SI status management for the purposes of publication of the post transactional transparency to APA
SI status management for the purposes of RTS27 reporting
Management of statuses of transactions excluded from calculations basing on information
Determination of a predicted SI status during the reporting period
Alerts configuration, basing on the defined thresholds of approaching the SI status in accordance with predicted current stand
High (even daily) frequency of market data actualization
Acquaint yourself with remaining systems
Risco Software Sp. z o.o.
Al. Jerozolimskie 123a
02-017 Warszawa
tel. +48 22 622 58 33
fax. +48 22 622 58 34
e-mail: kontakt@riscosoftware.pl
