MiFID II Compliance

Owned by Tómas Tómasson
Last updated: 28.09.2023 by Magnús Norðdahl
2 min read

Client Order MiFID II Compliance

MiFID information for the selected customer and instrument is displayed in the “New Client Order” window in Kodiak OMS.

Before sending an order to the market the Kodiak OMS system can be configured to check if the customer is suited for the financial product selected in the “New Client Order” window.

Product Category: This shows the classification of the orderbook in the MiFID system.
Customer Type: Retail or Company. (Einstaklingur eða Lögaðili)
Customer MiFID Category: Unclassified, Retail, Professional, Eligible Counterparty or Professional Opted.
Is suitable: Whether or not the order is suitable for the customer.

View Profile in the MiFID II System

To view the customer Profile in the MiFID II system users can press the “View Profile” link.

Market Order Entry - MiFID II compliance

To ensure that that market orders can be sent quick and efficiently in KODIAK Oms the MiFID II compliance check is not used in Market Order Entry even though a customer can be entered in the New Market Order Window.