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Deutsche Bank prepares for MiFID II, declares systematic internalizer status

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Deutsche Bank prepares for MiFID II, declares systematic internalizer status

Deutsche Bank AG will adopt a systematic internalizer status under the Markets in Financial Instruments Directive II or MiFID II, Bloomberg News reported, citing the lender's head of fixed income electronic sales and fixed-income market structure, Mario Muth.

"By registering early as a systematic internalizer, we will be in a position to help clients by taking on post-trade reporting duties as soon as the obligations come into force," Muth said.

The lender will declare itself a systematic internalizer for fixed income and currencies business as well as equities trade, according to the Oct. 9 report.

This status will allow Deutsche Bank to collect and report all transactions on behalf of its customers, reducing some of their $1.1 billion in estimated compliance costs under the MiFID II directive, the newswire reported, adding that the systematic internalizer status was introduced to ensure greater investor protection and transparency in markets.