Announcement on opening of French OTF
Griffin aims to make a decision on when and if it will begin operating through its French OTF early in the week commencing 25th March at the latest.
The continuing political uncertainty surrounding the UK’s departure from the EU has so far created significant problems with planning but if the status of Brexit remains unclear by the above date, a firm decision will need to be taken.
From technical, operational and regulatory perspectives, Griffin is ready to open its French OTF at short notice and is in a position to begin operating in Paris on 1st April if required.
It is important that customers are ready for this potential change due to the uncertain timeframes and they should prepare for this by adding Griffin’s French entity to their back office systems.
The static data required to do this is as follows:
|Entity name||Griffin Markets Europe SAS|
|Segment MIC Code for the OTF||GMEO|
|VAT number||FR 33 843 904 954|
|Company registration number||843 904 954|
|Equias Broker Code||BRGME|
A move to France should not mean to any changes to trader accounts or logins. Traders and systems would continue to connect to the same Griffin Trayport broker system using the existing company upstream and downstream accounts. The entity changes would be made behind the scenes so, in the event of a change, the current broker name, Griffin Markets Limited would be replaced by Griffin Markets Europe SAS. If Griffin does begin to operate through its French OTF, it will close its UK OTF at the same time.
Of possible interest to Joule Direct users is Trayport’s release this month which has added a “VenueEntity” attribute to the Orders and Trades elements of its API which may assist in identifying the correct broker legal entity associated with trades. This new attribute is available in version 188.8.131.52898 of the Joule Direct API and customers should contact Trayport directly for further details.