How do I configure my account so that I am no longer subject to MiFIR (MiFID II) reporting?

CONFIGURE EXCESS FUNDS SWEEP

Your IBKR Universal Account may be eligible to trade securities, commodities/futures, and cryptocurrency products. Based on eligibility and trading permissions, a Universal Account comprises up to three underlying accounts or account segments: a securities account governed by rules of the US Securities and Exchange Commission (SEC), a futures account governed by rules of the US Commodity Futures Trading Commission (CFTC), and a Cryptocurrency account. As part of our Universal Account service, you have authorized us to automatically transfer funds as necessary between your securities account and your futures account in order to satisfy margin requirements in either account. …

Introduction

Clients who elect to close their account must first ensure that all balances (e.g., cash and positions) have been withdrawn or transferred before the account can be closed. Once closed, the account is then restricted from further transactions, however, there are situations where assets may be credited to the account despite it being closed. As disclosed at the point of account closing, cash balances credited to an account after it has been closed are automatically converted to the base currency, regardless of amount, since the trading platform is no longer available to facilitate conversions…

Non-U.S. residents whose accounts are carried by IBKR Australia, IB Canada, IB Central Europe, IB Hong Kong, IB India, IB Ireland, IB Japan and IBKR Singapore are not subject to the Pattern Day Trading Rule. Non-U.S. residents whose accounts are carried by IB LLC or IB UK are subject to the rule…

Under MiFIR Art 23, Switzerland needs an equivalence decision from the EU Commission

On 3 January 2018, MiFID II / MiFIR was implemented in the EU with the aim to increase market transparency and thus improve market stability and investor protection. MiFIR Article 23 introduced an obligation for European investment firms to trade shares on a trading venue in the EU or on an equivalent third country trading venue (the so called 'trading mandate' or 'Share Trading Obligation'). This obligation covers all shares admitted to trading on a regulated market or traded on a trading venue in the EU, which includes most of the equity securities traded on SIX and means that Switzerland needs equivalent third-country status under MiFID II / MiFIR in order for EU trading participants to be allowed to continue accessing the Swiss market locally…