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 MiFID II marked a sea change in the approach to the handling of order, trade and transaction data. Rigorous new requirements around data capture, analysis, reporting and record-keeping made the communication of data a central theme in ensuring trading systems were MiFID II compliant, and connectivity – between external and internal systems, databases and processors […] August 14, 2018
Risk & Compliance Roughly six months after the introduction of MiFID II, Johannes Frey-Skött – VP Apps Engineering, Itiviti – talks to The TRADE about the short-term impact of the regulation on European market players, looking at both the positive and negative effects witnessed so far. He also outlines current pain points in MiFID II compliance and the […] July 17, 2018
Risk & Compliance With the pressure of initial implementation now a distant memory, MiFID II-regulated firms are turning their attention to the real work required to create sustainable long-term solutions. For many, the race to meet the January 3 deadline meant implementing temporary compliance processes that were far from perfect. Unless updated and improved, these could lead to […] July 10, 2018
Risk & Compliance What happens when one of the top 10 active brokers in Canada is confronted with: Stringent risk control requirements for electronic trading Time-to-market imperative to supersede TMX’ monitoring service termination Need to consolidate 14 internal trading platforms into a central gateway for enterprise-level risk management Optimization of latency and access speed for client connectivity Download […] June 26, 2018
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