New regulatory changes arising from MiFID II mean significant changes in 2018 for the financial industry.
Kyte Broking stands ready to meet these changes.
As of 3rd January 2018, Kyte Broking will operate an OTF Trading Venue. This demonstrates Kyte's commitment to continuing to provide quality services to our clients.
Below are some Frequently Asked Questions in relation to MiFID II. For specific questions, please feel free to contact our dedicated MiFID II mailbox at firstname.lastname@example.org
MiFID II FAQs
What is Kyte Broking's LEI Number
and MIC Code
Kyte Broking's LEI Number is 1ZU7M6R6N6PXYJ6V0C83
Kyte Broking's MIC Code is KBLM
Will Kyte Broking Operate a Trading Venue?
Kyte has approval from the FCA to operate an OTF (Organised Trading Facility) Trading Venue.
For more information on the Kyte Broking OTF, kindly see Kyte Broking OTF information site.
How Will Kyte Meet Transparency Reporting Requirements?
For intra-day trade reporting, Kyte has selected two APAs (Approved Publication Arrangement) dependent upon product type.
For cash equities, Kyte will use BATS.
For all other products, Kyte will use Trax.
How can I obtain Kyte’s Transparency Reports?
Kyte’s pre-trade and post-trade transparency reports will be made publicly-available from the Trax and BATS websites.
What is delegated or assisted reporting?
All MiFID II Investment Firms will be obligated to publish trades under MiFID II. Assisted or delegated reporting refers to the outsourcing of the operational processes associated with trade reporting. Brokers can assist or facilitate their clients in meeting their reporting requirements.
How will Kyte Meet Transaction Reporting Requirements?
For end-of-day transaction reports, Kyte will use Trax as an ARM (Approved Reporting Mechanism) that publishes data directly to the FCA.
What Information Will Kyte need from Clients?
Kyte has been collecting additional information from clients, where required, such as LEI number, decision-maker information, MiFID reportable status, and short-selling indicator (on a trade-by-trade basis).