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MAR, messengers and more

MAR, which started on 3rd July this year, requires most market participants to run “effective monitoring” within their organisations, comprising process, technology, training and suspicious transaction reporting.

Amongst the items to be monitored are instant messaging conversations, which have been used in several cases by regulators to prove intended abuse. There is a large change taking place in the industry when it comes to instant messaging, in that Yahoo Messenger will no longer be used. Instead other platforms such as Thomson Reuters Eikon Messenger and ICE Instant Messaging are taking its place, as reported here on the ICIS web site. The CTRM Center also has this article on the topic.

See here for a short video by Siobhan Hall of Platts on the introduction of MAR and how it will apply to the commodity and energy trading sector. The video also has some interesting timelines on the possible finalisation of the Ancillary  Activity test under MiFID II.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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