Examples of using Otfs in English and their translations into German
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Colloquial
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Official
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Ecclesiastic
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Medicine
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Financial
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Ecclesiastic
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Political
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Computer
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Programming
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Official/political
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Political
How do OTFs add to the complexity? video 4/4.
This tight definition should reduce regulatory arbitrage,as it will make it difficult to shift trades onto OTFs from more regulated venues.
All trading venues, namely regulated markets, MTFs, and OTFs, should lay down transparent rules governing access to the facility.
Reversely, OTFs may encourage negotiations between clients where they assume a common level of compatible interests between clients.
The limits or alternative arrangements shall take account of the conditions referred to in paragraph 1 and the limits that have been set by regulated markets,MTFs and OTFs.
OTFs are free in placing or retracting orders and also with a view to the extent to which client orders will be matched within their system.
However, since the adoption of MiFID 17, financial instruments have been increasingly traded on MTFs,on other types of OTFs, such as swap execution facilities or broker crossing systems, or only traded OTC.
Regulated markets, MTFs and OTFs shall make the information published in accordance with Articles 3 to 10 available to the public on a reasonable commercial basis.
Like the existing Regulated Markets(RMs) and Multilateral Trading Facilities(MTFs)for equity and equity-like instruments, OTFs may not execute orders against proprietary capital except trading in sovereign bonds.
A central aim of the proposal is to ensure that all organised trading is conducted on regulated trading venues: regulated markets, multilateral trading facilities(MTFs)and organised trading facilities OTFs.
Member States shall ensure that regulated markets, MTFs, and OTFs which admit to trading or trade commodity derivatives or emission allowances or derivatives thereof.
The functioning of organised trading facilities, taking into account supervisory experiences acquired by competent authorities,the number of OTFs authorised in the EU and their market share;
For MTFs and OTFs they will extend to bonds and structured finance products admitted to trading on a regulated market or for which a prospectus has been published and to emission allowances and derivatives traded on MTFs and OTFs.
However, since the adoption of MiFID17, financial instruments have been increasingly traded on MTFs,on other types of OTFs, such as swap execution facilities or broker crossing systems, or only traded OTC.
The quotes shall be such as to ensure that the firm complies with its obligations under Article 27 of Directive[new MiFID], and shall reflect prevailing market conditions in relation to prices at which transactions are concluded for the same or similarinstruments on regulated markets, MTFs or OTFs.
Your one-stop shop for regulatory reporting services: our Hub enables sell-side and buy-side clients, corporates, regulated markets,MTFs and OTFs to meet their regulatory obligations easily and efficiently.
Consistent with the requirements already proposed by the Commission(EMIR) to increase central clearing of OTC derivatives, the proposed provisions in this Regulation will require trading in suitably developed derivatives to occur only oneligible platforms, that is regulated markets, MTFs or OTFs.
Our Hub enables sell-side and buy-side clients, corporates, regulated markets, multilateral trading facilities(MTFs)and organised trading facilities(OTFs) to meet their regulatory obligations easily and efficiently- reporting to all relevant National Competent Authorities.
Member States shall require the other regulated markets, MTFs and OTFs to communicate their decision to their competent authority and all regulated markets, MTFs and OTFs trading the same financial instrument, including an explanation if the decision was not to suspend or remove the financial instrument from trading.
An investment firm executing client orders against own proprietary capital should be deemed a systematic internaliser, unless the transactions are carried out outside regulated markets,MTFs and OTFs on an occasional, ad hoc and irregular basis.
Under MiFID II/MiFIR, operators of all trading venues(including Multilateral Trading Facilities, MTFs,and Organised Trading Facilities, OTFs) must report transactions traded on their platform when executed through their systems by a firm which is not subject to the regulation.
An investment firm executing client orders against own proprietary capital should be deemed a systematic internaliser, unless the transactions are carried out outside regulated markets,MTFs and OTFs on an occasional, ad hoc and irregular basis.
While regulated markets and MTFs should continue to be subject to highly similar requirements regarding whom they may admit as members orparticipants, OTFs should be able to determine and restrict access based inter alia on the role and obligations which their operators have in relation to their clients.
Member States shall ensurethat regulated markets, operators of MTFs and OTFs which admit to trading or trade commodity derivatives apply limits on the number of contracts which any given market members or participants can enter into over a specified period of time, or alternative arrangements with equivalent effect such as position management with automatic review thresholds, to be imposed in order to.
Member States shall require that an investment firm or a market operator operating an MTF that suspends or removes from trading a financial instrument makes public this decision, communicates it to regulated markets,other MTFs and OTFs trading the same financial instrument and communicates relevant information to the competent authority.
The proposed MiFID provides that Member States must ensure that regulated markets,operators of MTFs and OTFs which admit to trading commodity derivatives apply appropriate limits, or arrangements with equivalent effect, to support liquidity, prevent market abuse and support orderly pricing and settlement conditions for physically delivered commodities 44.
Third, the provisions will improve the quality of the reporting by on the one hand, providing for better identification of the clients on whose behalf the investment firm has executed the transaction and the persons responsible for its execution, and on the other hand, requesting regulated markets,MTFs and OTFs to report details of transactions executed by firms which are not subject to the general reporting obligations.
In the Regulation,, they will contribute to reducing the cost of data by requesting trading venues, that is regulated markets,MTFs or OTFs to make post trade information available free of charge 15 minutes after the execution of the transaction, to offer pre- and post-trade data separately, and by giving the possibility to the Commission to clarify by delegated acts what constitutes a reasonable commercial basis.