On 3 January 2018, a new Directive 2014/65/EC (“MiFID II”) and Regulation (EU) No 600/2014 (“MiFIR”) become effective, introducing significant changes to the transaction reporting (“MiFIR Transaction Reporting”) framework that was created in 2007 with the Markets in Financial Instrument Directive (“MiFID I”). Affected clients will need to provide additional information to Global Capital in order to continue trading through their accounts when the new reporting requirements become effective on 3 January 2018. Global Capital will be requesting the required information electronically to facilitate its collection. Scope of MiFIR Transaction Reporting Obligations MiFIR Transaction Reporting applies to European Economic Area (“EEA”) Investment Firms and also to EEA Investment Firms affiliates to execute orders. As a client of Global Capital that uses our platform, you may be required to provide additional information to allow the proper transaction reports to be filed. EEA Investment Firms are obliged to report complete and accurate details of transactions executed in financial instruments covered by MiFIR to the relevant National Competent Authority (“NCA”) no later than the close of the next day. MiFIR has widened the scope of reportable financial instruments to cover those that are traded on EEA Regulated Exchanges, Multilateral Trading Facilities (“MTFs”) and Organised Trading Facilities (“OTFs”). In addition to transactions executed on EEA exchanges, MiFIR will capture Over The Counter (“OTC”) transactions and transactions of EEA listed financial instruments that are executed on non-EEA trading venues, e.g. a stock listed on the LSE traded on NYSE. (see financial instruments covered by MiFIR). Information to Be Reported
For Commodity Derivatives Transactions, an indication as to whether such Commodity Derivatives Transactions reduce risk in an objectively measurable way in accordance with Article 57 of MiFID II; This is applicable to organisation accounts only when the holder is a non-financial entity. You can visit here for more details Regulation (EU) No 600/2014 . |
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