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Crédit Agricole CIB to operate as systematic internalizer

Crédit Agricole Corporate & Investment Bank said it has registered to operate as a systematic internalizer under the Markets in Financial Instruments Directive II, or MiFID II, which will take effect Jan. 3, 2018.

The Crédit Agricole SA unit will register itself as a systematic internalizer for all fixed-income, foreign exchange and derivatives products.

The status allows the provision of equivalent level of transparency to clients as a regulated market, particularly by disclosing transaction details posttrade and publishing pretrade quotes.

"Given our leading position in European fixed-income and forex markets, we took the decision to opt in well ahead of the September 2018 deadline as imposed by the MiFID II regulation, to best support our clients, committing to provide liquidity and alleviating reporting duties such as posttrade transparency," head of global markets Isabelle Girolami said.