Case Study - LYNX and MiFID II

Efficient Global Data Access for Informed Investors

LYNX company logo, representing the trading platform's partnership with SIX for regulatory data and compliance solutions.

About the Customer

LYNX offers access to worldwide trading to 150 Trading Venues in 33 countries and 25 currencies. LYNX is a Dutch investment firm authorized by the Dutch Financial Supervisory Authority (“AFM”) and an Introducing Broker of Interactive Brokers Ireland Limited (“IB”), which is licensed as an investment firm in Ireland. 

Key Takeaways

  • Broad coverage of market data, reference data and regulatory data.
  • SIX recognized expertise on Regulatory Data.
  •  Short implementation time and easy data integration.
  • Fast and cost-effective delivery

Key Product Features

  • “Complex”/”non-complex” classification of financial instruments supporting easy suitability and appropriateness testing.
  • Complete costs & charges information for transparency compliance.
  • Standard identifiers and classification such as ISIN, FISN, CFI, LEI and MIC for easy integration.
  • Delivery via flat files in CSV format.

Client Case: Business Challenge and SIX Product

As a financial services provider, LYNX defines a target market for each product in accordance with MiFID II and provides detailed cost information to its clients. For this purpose, LYNX also needs the data from the manufacturers of products that LYNX offers its customers. In LYNX’s efforts to collect information and data from different sources as efficiently as possible, LYNX was looking for a vendor that already collects relevant MiFID II data from a wide variety of financial product manufacturers and shares it from just one single source. LYNX found that vendor in SIX.

Portrait of Alexander Asante, Head of Financial Products at LYNX, sharing his experience on how SIX Flex® streamlined MiFID data integration, providing high-quality regulatory data for their platform.

As a financial services provider, we continuously strive for further efficiency in our MiFID data integration and we found SIX, and SIX Flex® in particular, to be the logical solution to provide our platform with highquality regulatory data in the easiest way.

Alexander Asante, Head of Financial Products, LYNX

Solution

The MiFID II/MiFIR legal framework aims to improve the competitiveness of the EU financial markets and to ensure investor protection for investors in financial instruments. SIX provides accurate and high-quality reference, regulatory and market data for all types of assets over the entire life cycle of financial instruments. In this very case, our MiFID II Investor Protection data set is used to maximize the automation of their workflows.

SIX efficiently provides LYNX with the required MiFID II Investor Protection data (target market, complexity, risk assessment, costs & charges). The choice of the delivery tool from SIX for this data set has fallen upon its latest delivery platform called SIX Flex®. With SIX Flex®, LYNX has total control on the data they received from SIX, can define delivery intervals, and analyze their data consumption and activities. Due to the large number of MiFID II relevant products that LYNX offers its clients for trading, they opted for a bulk file delivery.

Results

The trading platform from LYNX now integrates our MiFID II Investor Protection Data and efficiently provides all the information that allows investors to make informed decisions on financial instruments that are suitable for them. On a daily basis, the bulk flat file is processed and the data automatically updated for immediate usage and compliance.

With our solution, LYNX can offer its end customers a maximized number of MiFID II-relevant instruments for trading, and thereby increase their satisfaction. Through the classification into the different risk classes, the trader is only shown the relevant instruments he is allowed to trade. Thanks to SIX Flex® request easy and seamless integration, LYNX was able to integrate our data set on their platform within a few weeks.

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