Barclays Plc will become the latest bank to upgrade its trading platform for all financial products traded on exchanges, as the EU's new rules under the Markets in Financial Instruments Directive, or MiFID II, come into force Jan. 3, 2018, Reuters reported, citing a spokesman for the lender.
The move to opt-in as a "systematic internalizer" means that the bank will take on more trade reporting duties for clients on products, such as foreign exchange, bonds and shares on registered exchanges, according to the Dec. 15 Reuters report.
BNP Paribas is among other banks that have moved to voluntarily become recognized as systematic internalizers.
