MiFID II

Overview

The Markets in Financial Instruments Directive (MiFID II) will enter into force on 3rd January 2018. It focuses on strengthening transparency and investor protection across the MiFID II regime via wide reaching changes to market structure, investor protection, organisational structure, and pre and post trade reporting.

MiFID II applies to those financial services businesses undertaking MiFID II business anywhere in the EU as well as those providing services cross-border. This includes investment firms, trading venues, data reporting service providers and third-country firms providing investment services or performing investment activities in or into the EU.

The GFI Group aim to continue to provide our services with as little disruption to our clients as possible. Our new venue structure is detailed in the table below. We do not currently plan to operate as an SI.

Name Operating MIC Segment MIC Venue Type Country
GFI Brokers Ltd – MTF GFIB GFBM MTF UK
GFI Brokers Ltd – OTF GFIB GFBO OTF UK
GFI Securities Ltd – OTF GFIC GFSO OTF UK
GFI Securities Ltd – MTF GFIC GFSM MTF UK

Key changes to our services are listed below:

  • The GFI group are repapering clients with updated Terms of Business, Venue Rule Books, Best Execution and Order Handling and Conflict Policies.
  • From 3rd of Jan we will be unable to trade with an entity that has not provided us with a valid LEI. For more information on LEIs, please visit; http://www.gleif.org/en/.
  • To meet our order record keeping obligations, we are required to collect trader short-codes from our clients to record the persons within the firm responsible for the decision or execution of trades.
  • All client orders (including voice) are required to be recorded and retained at the disposal of the local regulator. Additional data will also be captured at point of order, after receiving a client order, and for operators of trading venues.
  • Local Authority Clients are to be reclassified as retail from January 3rd. All Local Authority clients wishing to continue transacting with BGC Group must request to opt-up and meet the conditions as defined by the FCA and assessed by the Firm.
  • Where applicable, clients can expect to receive disclosures of; all benefits (including ongoing benefits), unbundled ‘Research’ costs (as defined under MiFID II) and all costs and associated charges related to Investment/Ancillary services and Financial Instruments.

Equivalence granted between the US and EU regulatory regimes permits US persons to execute swap transactions subject to the CFTC’s trade execution requirement on our OTF. Please note that this equivalence does not exempt US persons from their part 43 and 45 reporting obligations which remains their responsibility. GFI’s OTF will not facilitate such reporting.

Our client outreach team is actively contacting clients to collate the information necessary for us to meet our regulatory obligations including LEIs and Trader short-codes. If impacted, you will also be provided with updated legal documentation via Bloomberg Entity Exchange.

Rulebooks

GFI Brokers Ltd- Asset classes of financial instruments

GFI Securities Ltd- Asset classes of financial instruments

Ratecards

Best Execution and Order Handling Policy

Conflict of Interest Statement

Minor non-monetary benefits disclosures

Pre- and Post-Trade Transparency Reporting (RTS 1 and 2)

Best Execution Reports (RTS 27 + 28)

EMEA Terms of Business

Trading Venue Notices

Articles 32 and 52 of MiFID II establish obligations on National Competent Authorities and trading venues relating to the suspension and removal (cancellation) of certain financial instruments from trading (and any subsequent restoration).

The FCA has received notification in relation to the instrument(s) in the table below and in accordance with sections 313CB/313CC of FSMA, the FCA requires action to be taken immediately with regard to trading on these instruments on all Regulated Markets, Multilateral Trading Facilities, Organised Trading Facilities and Systematic Internalisers in the UK.

We have received a request from the FCA to SUSPEND /RESTORE/ REMOVE the instruments (below) and any associated derivatives/other instruments from trading.

The Firm will suspend trading on all venues any financial instrument that is the subject of applicable sanctions imposed by any relevant global government organisation.

Issuer Name ISIN Action Issuer Effective From
TECHNICOLOR CREATIVE STUDIOS FR001400I939 SUSPENSION 54930064SP2SSEVKFJ48 2024-01-02T09:00:00Z
MARE NOSTRUM FR0013400835 SUSPENSION 9695001D0TLYAWZSX187 2024-01-02T09:00:00Z
ESI GROUP FR0004110310 SUSPENSION 969500SJCEYK6O6RXV95 2024-01-09T09:00:00Z
ROVIO ENTERTAINMENT OYJ FI4000266804 SUSPENSION 743700H95H3OPXDV6568 2024-01-12T07:42:40Z
ITESOFT FR0004026151 SUSPENSION 969500HZ36JO2ODTSW29 2024-01-12T09:00:00Z
KAHOOT! ASA  NO0010823131 SUSPENSION 2549004957SZTRN8CW77 1/16/2024 8:03
EURONEXT GROWTH PARIS FR001400C2Z4 SUSPENSION ENIBLOCK 22/01/2024 09H00 CET
PIERREL S.P.A. IT0005549644 SUSPENSION 8156002BC7CB6E3BD403 1/16/2024 8:03
CASINO, GUICHARD-PERRACHON FR0010154385 SUSPENSION 969500VHL8F83GBL6L29 24/01/2024 09:00 CET
EURONEXT GROWTH PARIS FR0013400835 SUSPENSION 9695001D0TLYAWZSX187 2024-01-02T09:00:00Z
CASINO GUICHARD-PERRACHON FR0010154385 SUSPENSION 969500VHL8F83GBL6L29 24/01/2024 09:00:00
HOTEL CHOCOLAT GROUP PLC GB00BYZC3B04 SUSPENSION 213800B4D3J15PZHVY29 2024-01-25T07:30:00Z
IDSUD FR0000062184 SUSPENSION 969500RSUFGJP0GX2G45 26/01/2024 09:00:00
CASINO, GUICHARD-PERRACHON FR0010154385 SUSPENSION 969500VHL8F83GBL6L29 24/01/2024 09:00:00
ADEUNIS FR0013284627 SUSPENSION   29/01/2024 09:00 CET
DX (GROUP) PLC GB00BJTCG679 SUSPENSION 213800LA2YGSOFIYIH95 2024-01-29T07:33:00Z
ADEUNIS FR0013284627 SUSPENSION 969500OLTWVI6246EZ48 29/01/2024 09:00:00
ALUFLEXPACK N CH0453226893 Stop Trade Range AFP 31/01/2024 08:00:00
PIXIUM VISION FR001400JX97 Suspension 96950046OPLRLKKEOO08 31/01/2024 09:00:00
BIOSENIC BE0974280126 Suspension 549300HFIIMTOP1DFR76 2/2/2024 9:00
Lehto Group Oyj FI4000081138 Suspension 743700YEHY913ZDHNX66 6/2/2024 7:01
TALGO ES105065009 Suspension 95980037JECHVQDJDT59 8/2/2024  15:52:00 AM
BELIEVE FR0014003FE9 Suspension 969500WGEAZ8YE4UAI86 12/2/2024 9:00
BELIEVE FR0014003FE9 Suspension 969500WGEAZ8YE4UAI86 12/2/2024 9:00
SOCIETE POUR L’INFORMATIQUE INDUSTRIELLE FR0000074122 SUSPENSION 96950044FWV7YEJCKR65 26/02/2024 09:00:00
Hydromash of Nizhny Novgorod OAO NGRM SUSPENSION Explicit  
Hydromash of Nizhny Novgorod OAO NGRM SUSPENSION Explicit  
Hydromash of Nizhny Novgorod OAO NGRM SUSPENSION Explicit  
Kamensk-Uralsky Metallurgical Plant OAO KYMZ SUSPENSION Explicit  
Kamensk-Uralsky Metallurgical Plant OAO KYMZ SUSPENSION Explicit  
Chelyabinsk Forge & Press Plant PJSC CHKZP SUSPENSION Explicit  
Chelyabinsk Forge & Press Plant PJSC CHKZP SUSPENSION Explicit  
Kamensk-Uralsky Metallurgical Plant OAO KYMZP SUSPENSION Explicit  
Kamensk-Uralsky Metallurgical Plant OAO KYMZP SUSPENSION Explicit  
224 Lo OAO 5376041Z SUSPENSION Explicit  
AGD Diamonds AO 2006866D SUSPENSION Explicit  
Arktik Spg 2 OOO 1622599D SUSPENSION Explicit  
Beks Ship Management and Trading SA 1803836D SUSPENSION Explicit  
Burilnye Truby OOO 0350054D SUSPENSION Explicit  
Cozum Yazilim Donanim Elektronik Ic Ve Dis Ticaret AS 6114207Z SUSPENSION Explicit  
Kompel ZAO 5432041Z SUSPENSION Explicit  
Kompel-SPB OOO 7187869Z SUSPENSION Explicit  
OEZ Ppt Alabuga OAO 1247995D SUSPENSION Explicit  
Sasta PAO 8797033Z SUSPENSION Explicit  
Stan OOO 1245113D SUSPENSION Explicit  
AGEAS SA/NV BE0974264930 SUSPENSION 5493005DJBML6LY3RV36 28/02/2024 13:00:00
OPUS GLOBAL Nyilvánosan Működő Részvénytársaság HU0000110226 SUSPENSION OPUS GLOBAL Nyilvánosan Működő Részvénytársaság 29/02/2024 10:00:00
PHARNEXT FR001400N1P4 SUSPENSION EURONEXT GROWTH PARIS 06/03/2024 09H00 CET
BELVOIR GROUP PLC GB00B4QY1P51 SUSPENSION 213800FPT3JTZYB3FP61 2024-03-07T07:30:00Z
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. XS1395004580 SUSPENSION 815600EF740BA0904235 3/12/2024 7:53
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. XS1395004580 SUSPENSION 815600EF740BA0904235 12/3/2024 7:52
JSA TECHNOLOGY FR0010680033 SUSPENSION 969500X2F1QAFLKJ4110 12/3/2024 9:00
METABOLIC EXPLORER FR0004177046 SUSPENSION 969500VI1GSBPGD9B460 12/3/2024 9:00
CLASQUIN SA FR0004152882 SUSPENSION 9695004FF6FA43KC4764 12/3/2024 9:00
CASINO, GUICHARD-PERRACHON FR0010154385 SUSPENSION 969500VHL8F83GBL6L29 13/03/2024 17:40:00
CASINO, GUICHARD-PERRACHON FR0010154385 SUSPENSION 969500VHL8F83GBL6L29 13/03/2024 16:42:10
FORWARD PARTNERS GROUP PLC  GB00BKPGBB09 SUSPENSION  213800G3LF6776Y7IY64 2024-03-14T07:30:00Z
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. XS1395004580 SUSPENSION 815600EF740BA0904235 12/3/2024 7:53
LKQ ITALIA BONDCO DI LKQ ITALIA BONDCO GP S.R.L. E C. S.A.P.A. XS1395004408 SUSPENSION 815600EF740BA0904235 12/3/2024 7:52
Meyer Burger Technology AG CH0108503795 SUSPENSION 529900ULZXRB8EM0TH56 20/03/2024 07:28:00
IMPELLAM GROUP PLC GB00B8HWGJ55 SUSPENSION 213800QCQWZBNJ2IUN83 2024-03-21T07:30:00Z
IMPELLAM GROUP PLC GB00B8HWGJ55 SUSPENSION 213800QCQWZBNJ2IUN83 2024-03-22 T07:00:00Z
MICROPOLE FR0000077570 SUSPENSION 969500RO0IO2QBIE5W58 25/03/2024 09:00:00
CASINO, GUICHARD-PERRACHON FR0000125585 SUSPENSION 969500VHL8F83GBL6L29 27/03/2024 09:00:00
CASINO, GUICHARD-PERRACHON FR001400OJ98 SUSPENSION 969500VHL8F83GBL6L29 27/03/2024 09:00:00
CROSSJECT FR0011716265 SUSPENSION 969500W1VTFNL2D85A65 2/4/24 9:00 AM
DELTA DRONE FR001400H2X4 SUSPENSION 9695000EAC5UI2LAPJ16 2/4/24 9:00 AM
FUTEBOL CLUBE DO PORTO, FUTEBOL SAD PTFCP0AM0008 SUSPENSION 549300H3W4IIDNIV6138 2/4/24 9:25 AM
CROSSJECT FR0011716265 SUSPENSION 969500W1VTFNL2D85A65 2/4/24 9:00 AM
OPDENERGY HOLDING SA ES0105544003 SUSPENSION 959800KT1FVNZ7HC1R25 3/4/24 6:00 PM
  CH1260041939 SUSPENSION ObsEva SA  
AUTOSTRADE MERIDIONALI S.P.A. IT0000084043 SUSPENSION 815600F058EA765FB608 8/4/24 7:30 AM
A.S.T. GROUPE FR0000076887 SUSPENSION 969500MTCZNT7JHITU04 8/4/24 9:00 AM
FINANCIERE IMMOBILIERE ETANG BERRE MEDIT FR0000062341 SUSPENSION 9695000L8HNPZ1PFL243 8/4/24 9:00 AM
ADEUNIS FR0013284627 SUSPENSION 969500OLTWVI6246EZ48 8/4/24 9:00 AM
EURONEXT PARIS BE0974280126 SUSPENSION 549300HFIIMTOP1DFR76 11/4/24 11:33 AM
FR00140006O9 FR00140006O9 SUSPENSION 9695005U38X1SF184325 12/4/24 9:00 AM
NATURGY ENERGY GROUP SA ES0116870314 SUSPENSION TL2N6M87CW970S5SV098 17/04/2024 09:00:00
NATURGY ENERGY GROUP SA ES0116870314 SUSPENSION TL2N6M87CW970S5SV098 17/04/2024 09:00:00
AURES TECHNOLOGIES FR0013183589 SUSPENSION 969500VDHCHCXA2TXH29 17/04/2024 12:55:00
CREDIT AGRICOLE CIB FCIAL SOL FR2CIBFS7727 SUSPENSION   17/04/2024 15:39

Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Securities OTF (“GFSO”).
For further information, please contact: #compliancebgcuk@bgcg.com.

Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Brokers OTF (“GFBO”).
For further information, please contact: #compliancebgcuk@bgcg.com.

Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Securities MTF (“GFSM”).
For further information, please contact: #compliancebgcuk@bgcg.com.

Any financial instruments issued by entities that are subject to sanctions imposed due to the Ukrainian conflict are not being admitted to trading on GFI Brokers MTF (“GFBM”).
For further information, please contact: #compliancebgcuk@bgcg.com.