MiFID II comes into effect from 3 January 2018 and will lead to fundamental and wide-ranging reforms which will have a significant impact on financial institutions operating in the EU. It will govern both the manner in which firms offer services within the EU as well as determining the rules, systems and controls surrounding the operation of trading venues, with the aim of making financial markets more efficient and transparent, and to strengthen the protection of investors.
Because Green Street is in scope with respect to MiFID II, we have created this web page to provide a brief overview of Green Street's approach to the new rules. Below is a brief overview and contact details in the event you have any further enquiries.
Arrangements for the payment for research
As a MiFID II investment firm providing both execution and research services, Green Street will be required to price and supply execution and research (and other benefits) separately (referred to as "unbundling"). The supply of and charges for the provision of research will not be influenced or conditioned by levels of payment for execution services.
MiFID II's unbundled research requirement has triggered a charging model which provides investment firms with a choice between, or a combination of, payment through an institutional client's own P&L or by way of a Research Payment Account (RPA). Please contact us on +44 20 7290 6555 for further information regarding our research offering, costs and what new documentation will be required.
Green Street does not intend to become an RPA administrator, but does operate a CSA platform and supports clients with the collection and distribution of research-related commissions via transactional and accounting methods.
Green Street does not intend to become a systematic internaliser.
Transaction Reporting and Trade Reporting
MiFID II compliant Transaction Reporting will be affected through a licensed 3rd party provider. Trade reporting will continue to be provided by our market side brokers. For further information regarding trade and transaction reporting, please email Robin Russel, Head of Operations at firstname.lastname@example.org.
FIX Tag Details
- Bloomberg FIX protocol specifications FAQs
- Bloomberg FIX protocol specifications flat tag
- Bloomberg FIX protocol specifications orders & executions flat tags
- Bloomberg FIX protocol specifications repeating
In relation to MiFID II's best execution requirement, Green Street will make the relevant RTS disclosures on its website. In addition, we will be updating our execution policy and this will be made available during the course of Q4 2017. For further information regarding our approach to best execution please email email@example.com.
We will be updating our Terms of Business and certain customer agreements and these will be provided to clients during the course of Q4 2017. Several of our policies may also require updating and we expect these documents to be available during the course of Q4 2017. For further information in relation to our legal arrangements please email Natascha Collinson at firstname.lastname@example.org.
20 Balderton Street 5th Floor London W1K6TL United Kingdom
Tel: +44 (20) 3793 7000
Legal Entity: Green Street Advisors (UK)Limited
FCA FRN: 482269
Companies House Number: 06471304
For further information regarding our approach to MiFID II, please email Robin Russel, email@example.com.