In the wake of the regulatory tsunami caused by MiFID II, sell-sides are struggling to manage cost pressure alongside extensive new requirements. MiFID II will introduce a far more comprehensive and detailed framework than its predecessor, impacting transparency, market structure, and organizational requirements. It will also significantly strengthen investor protection. Operational efficiency and traceability will be key to remain in business post MiFID II, as the new regulatory requirements will touch virtually every area of trading. It will be practically impossible to comply with MiFID II without implementing technology designed for this purpose.
With MiFID II on the horizon, banks and brokers across Europe have initiated system review processes to ascertain the effectiveness of their current technology. Many firms are also taking this opportunity to consolidate systems to get the full picture of their trading, position and risk management across asset classes. It is also a golden opportunity from a practical perspective to clean up the platform and reduce the number of vendor relationships. While consolidation makes perfect sense from a business perspective, it does complicate the system selection process, as the new platform must support varying needs across asset classes and business functions.
Itiviti has prepared an overview of today’s multi-faceted sell-side technology stack to facilitate a discussion, layer-by-layer, around the expected impact of MiFID II.
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