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Deutsche Bank Has a Plan to Ease Fund Managers’ MiFID II Start

  • Banks plan systematic internalizers for fixed-income trading
  • Platforms will be ready for Jan. 3 start of MiFID II rules
Bloomberg business news

How MiFID II Is Going to Change Banking

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Deutsche Bank AG and UBS Group AG each have plans to win trading business by trying to ease clients’ transition to the European Union’s sweeping new MiFID II law.

The German and Swiss lenders will launch a new type of fixed-income trading platform for MiFID’s Jan. 3 start date, ahead of a requirement that will become mandatory for most big banks in September. On the new venues, the banks will assume responsibility for collecting and reporting transaction data for customers, freeing them from some of the more than $1.1 billion in MiFID II’s estimated compliance costs for money managers.