Systematic Internalisers (SIs) are investment firms that on a frequent, systematic and substantial basis execute client orders on own account, outside of trading venues. The SI regime comes into force 3 January 2018. From this date, investment firms can choose to become an SI in a given financial instrument or group of financial instruments. As of 1 September 2018, investment firms will be mandatorily classified as an SI in those financial instruments which they have traded frequently, systematically and substantially. The SI status will be evaluated continuously in terms of business needs and regulatory requirements.
Danske Bank as SI
Danske Bank will ‘opt in’ as Systematic Internaliser, starting 3 January 2018 under the MIC code ‘DASI’. By doing so, we will have certain obligations to provide quotes to clients and make these quotes public. We will also handle post trade publication to help clients navigate through the new transparency regimes.
We will serve customers as SI in ToTV instruments in the below asset categories:
- Nordic Equities
- Equity derivatives
- Fixed income derivatives
- FX instruments
How does Danske Bank handle pre and post trade publication?
Danske Bank will use an Approved Publication Arrangement (APA) for pre and post trade publication. For pre trade publication, we will use BATS for equity and Trax for non-equity. For post trade publication, we will use Nasdaq, Oslo Børs and Trax.
Danske Bank offers assisted/delegated reporting
Danske Bank offers Assisted & delegated Trade Reporting. If you have any questions in relation to this topic or if you require Assisted or delegated Trade Reporting services, please contact your client manager in Danske Bank.
See details of the Commercial Policy.