BGCFINANCIAL SERVICESCHARITY DAYESGINVESTORS & MEDIACAREERS CONTACT US MIFID II Overview The Markets in Financial Instruments Directive (MiFID II) will enter into force on 3rd January 2018. It focuses on strengthening transparency and investor protection across the MiFID II regime via wide reaching changes to market structure, investor protection, organisational structure, and pre and post trade reporting. MiFID II applies to those financial services businesses undertaking MiFID II business anywhere in the EU as well as those providing services cross-border. This includes investment firms, trading venues, data reporting service providers and third-country firms providing investment services or performing investment activities in or into the EU. The BGC Group aim to continue to provide our services with as little disruption to our clients as possible. Our new venue structure is detailed in the table below. We do not currently plan to operate as an SI. Name Operating MIC Segment MIC Venue Type Country BGC Brokers LP – OTF BGCI BGCO OTF UK Key changes to our services are listed below: The BGC group are repapering clients with updated Terms of Business, Venue Rule Books, Best Execution and Order Handling and Conflict Policies. From 3rd of Jan we will be unable to trade with an entity that has not provided us with a valid LEI. For more information on LEIs, please visit; https://www.gleif.org/en/. To meet our order record keeping obligations, we are required to collect trader short-codes from our clients to record the persons within the firm responsible for the decision or execution of trades. All client orders (including voice) are required to be recorded and retained at the disposal of the local regulator. Additional data will also be captured at point of order, after receiving a client order, and for operators of trading venues. Local Authority Clients are to be reclassified as retail from January 3rd. All Local Authority clients wishing to continue transacting with BGC Partners must request to opt-up and meet the conditions as defined by the FCA and assessed by the Firm. Where applicable, clients can expect to receive disclosures of; all benefits (including ongoing benefits), unbundled ‘Research’ costs (as defined under MiFID II) and all costs and associated charges related to Investment/Ancillary services and Financial Instruments. Equivalence granted between the US and EU regulatory regimes permits US persons to execute swap transactions subject to the CFTC’s trade execution requirement on our OTF. Please note that this equivalence does not exempt US persons from their part 43 and 45 reporting obligations which remains their responsibility. BGC’s OTF will not facilitate such reporting. Our client outreach team is actively contacting clients to collate the information necessary for us to meet our regulatory obligations including LEIs and Trader short-codes. If impacted, you will also be provided with updated legal documentation via Bloomberg Entity Exchange. Please click on the following brand logos to load the brand’s Trading Venue webpage, which contains Venue Rulebooks, Rate cards and other useful information: BGCFINANCIAL SERVICESCHARITY DAYESGINVESTORS & MEDIACAREERSCONTACT US BGC on Linked In testing Copyright ©2021. All Rights Reserved | Business Continuity | Website Terms of Use | Disclaimers and Legal Information | Notices | Customer Privacy Notice | Privacy Statement | Notices for California Consumers Subject to the California Consumer Privacy Act Check the background of our Firm on FINRA’s BrokerCheck.