Trading volume is up 40%, largely driven by activity in rates derivatives.
Clients are stepping up discussions on how to engage with MiFID II data.
The aim is to provide a frictionless, interoperable solution for Securities Financing Transactions Regulation.
This year will be transformative for transaction cost analysis.
The launch follows the introduction of Sonia futures.
Firms have estimated the transition will cost $200m.
Industry survey sees the trading protocol outpacing RFQ and CLOB within three years.
IOSCO requires benchmarks to be constructed from active, observable, transactional data.
Greener bonds may eventually have better pricing.