Page 109 - PRIAA Glossary

MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE (MIFID)
A set of directives aimed at increasing cross-border investments, consumer protection and competition amongst European Union countries.
MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE II (MiFID II)
Revisions to MiFID passed by the European Parliament in October 2012. The major revisions include an extension of regulation to organised trading facilities (OTFs) and new trading rules regulating high-frequency trading.
MARKETS IN FINANCIAL INSTRUMENTS REGULATION (MiFIR)
A new regulation to be adopted across the EU post the European Commission’s review of the MiFID framework. This proposal was released in October 2011 and aims to create a safer and more transparent financial system.
MARKIT
A provider of independent data with the goal of improving data transparency, creating products for accurate portfolio valuations and performing over-the-counter (OTC) derivatives trade processing to the global financial markets.
MARKIT REFERENCE ENTITY DATABASE (MARKIT RED)
A market standard database which provides critical data used to document and confirm credit derivative transactions. Markit RED legally verifies the relationship between reference entities and reference obligations which are traded in the credit default swap market, also known as pairs. The most liquid reference obligations are flagged as the market standard RED “preferred” and are widely used for electronic trading, matching and clearing. Markit RED has been further developed to support the growth in trading Loans Credit Default Swaps Market (LCDS) by providing transparent reference data. Markit RED verifies the reference entities, credit agreements and loan facilities used as reference obligations in the LCDS market.
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