SWIFT has announced the completion of its initial analysis of the impact of MiFID (Markets in Financial Instruments Directive) on ISO 15022 and ISO 20022 standards. SWIFT is creating a standards working group to coordinate the analysis and implementation of the various harmonisation initiatives in the securities industry. This analysis shows that the majority of MiFID’s requirements, scheduled to come into force in 2007, are already covered by the existing ISO 15022 messages and the ISO 20022 messages, currently awaiting ISO approval. Some minor changes will be required to ensure the ISO message suite is 100 per cent MiFID compliant. SWIFT confirms these minor changes will be made in consultation with the industry to ensure all ISO messages are compliant and available for use by November 2007, when MiFID enters into force.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.