FIA’s European E-Trading Committee, working in cooperation with three other industry trade associations, has produced a template of questions for use by investment firms providing direct electronic access to their clients. Under the revised Markets in Financial Instruments Directive, an investment firm that provides direct electronic access is responsible for ensuring that clients using that service comply with the requirements of MiFID II and the rules of the trading venue. An investment firm offering DEA is required to carry out a due diligence assessment of its prospective DEA clients to ensure that they meet the requirements set out in the MiFID II regulatory standards and the rules of the trading venue to which it offers access. The purpose of the template is to allow both the DEA provider and client to use a standardized set of checks. Click here for more information.
