January 3, 2018 will be a milestone in European financial markets, as the MiFID II Directive is then implemented in all EU member states, with major implications expected for market participants: trading venues, investment firms and their clients, and for any firm with trading activities in the EU.
Based on our dialogue with clients, Itiviti was early aware of their need for a new toolset to help ease the regulatory burden and control costs for compliance. We started development of an all-new solution to manage collection and consolidation of order/trade data together with market data to secure fully compliant reporting and monitoring.
The result is Itiviti Analyst, a comprehensive regulatory solution built with a modular approach that enables firms to stay on top of new regulatory requirements regarding market abuse, reporting and execution quality. We have already introduced the first module, Itiviti Analyst MAR, to address market abuse regulation that became effective this past July.
New regulatory demands introduced by MiFID II include:
Itiviti specifically wants to address the key areas where MiFID II introduces fundamental changes in European markets, and conducted with the common design objective to allow implementation with minimal impact on existing trading infrastructure. Itiviti Analyst achieves this by making use of industry-standard FIX drop copy of orders and trades in real time. This facilitates deployment and integration with existing trading solutions from any vendor.
Through our partnership with OneTick, Itiviti Analyst adds new data management and analytics capabilities to help clients meet the stringent demands on reporting as well as proof of Best Execution, and doing so in a highly automated fashion.
We develop Itiviti Analyst with innovation in mind, including business innovation. Compliance or ”MiFID II enabled” are only the basic requirements. We should offer solutions that also help clients capture opportunities as a new European market structure emerges as a consequence of regulatory change.
The transition to MiFID II is not just an issue involving new software and operating procedures. Aside from delivering solid trading technology, Itiviti is also a speaking partner and advisor, to guide our clients to success in the new regulatory landscape.
Further information on MiFID II transition and Itiviti Analyst is available here.
Risk & Compliance The deadline for MIFID II compliance is less than six months away. Though the regulation is largely understood, firms anecdotally report that they expect to be ready with significant workarounds that will likely need to be revisited in the future to improve and streamline operations. More interestingly, firms are finding that the regulators’ intentions are […] August 15, 2017
Risk & Compliance Markets in Financial Instruments Directive II (MiFID II) and the Fundamental Review of the Trading Book (FRTB) require huge volumes of data to be sourced and managed. This webinar, organized by Intelligent Trading Technology in July 2017, discusses what sort of data analytics you need to implement to be able to process and analyse MiFID […] August 2, 2017
Risk & Compliance In this video series, Jim Northey, Senior Vice President Strategy and Research at Itiviti, tackles the implications of MiFID II for firms in terms of order routing, time synchronization and Best Execution. In the second segment, he also explores the impact that MiFID II and the Consolidated Audit Trail are likely to have in the […] July 25, 2017
Risk & Compliance Jim Northey explores the implications of MiFID II and the Consolidated Audit Trail (CAT) for US firms, and provides general advice on how to work towards MiFID II compliance in the run-up to the January 3rd, 2018 deadline. July 18, 2017