Research Post

MiFID II / MiFIR

MiFID II / MiFIR

10 June 2014

The Markets in Financial Instruments Directive II / Regulation (MiFID II / MiFIR) is revolutionising all aspects of financial instrument market regulation across Europe. As programmes continue to finalise preparatory work and mobilise for the challenges ahead, we continue to work with our clients to understand the specific implications of the obligations on their business.

Investing strategically and proactively reaps dividends. While MiFID I has proved a costly burden for many investment firms, one of our market-leading clients has substantially improved its market position by designing and implementing a creative and effective reporting solution – differentiating itself from the market. We look to replicate this philosophy, always keeping the long-term performance of our clients in mind. Our focus is not only on ensuring compliance, but also offsetting increasing trading costs and profit margin pressures with solutions that minimise operating costs, promote technology automation and streamline processes; to ensure that our clients remain competitive.

There has been a historic trend of firms struggling to comply with regulatory agendas, highlighting the complexity of both analysis and technical implementation and the need to deploy the right blend of project resources. Our multi-skilled teams combine in-depth analytical ability with technology expertise. This results in the initial analysis and design phases being tailored and transposed seamlessly into implementation of technology solutions that address the exact requirements of our client – providing continuity throughout the project lifecycle. Our programme and project managers provide the foundation for successful delivery, taking ownership for accountability and driving the programme forward to delivery.

A common concern expressed by our clients is the immense amount of data required – in terms of both scale and quality. However, ‘quality’ is frequently overlooked.  We have seen a trend of firms investigating possible sources and routes for data, but often skimming over the ‘actuals’ i.e. validating the quality of data across the multiple locations.  This often means looking at data over a period of time and understanding its lineage.

We excel in data sourcing, consolidation and validation; ensuring that the business, client and regulator are presented with high-quality, consistent data. As a result, all opportunities are seized to take advantage of new data to improve pre- and post-trade analytical ability, quality of operating cost information and operational excellence.

 

OUR TEAMS

OurMiFID II teamconsist of:

  • PMO leads.
  • Programme and project managers.
  • Analysts (business and technical).
  • Technology specialistssystem architects / developers.

 

SERVICES

  • MiFID II programme mobilisation: regulatory knowledge development / governance set-up / communication channels.
  • Business and functional requirements.
  • Impact analysis.
  • Gap analysis.
  • Future state design / target operating models.
  • Data managementsourcing / consolidation / validation.
  • Vendor selection.
  • System enhancements and establishment of data feeds.

 

CONTACT US

We would be delighted to introduce you to our experts and explore how we can shape our services to assist you. Our goal is to not only make sure our clients are 100% MiFID II compliant, but to implement strategic solutions that harmonise across regulatory agendas – in an efficient and scalable manner

If you would like to read further materials around this subject, please contact the relevant sales department for more information.

 

Download our MiFID II / MiFIRslides below for a high-level walk-through of the regulation and how it can be approached. For ease of interpretation, the documents following the MiFID II Overview are a break down of MiFID II into eight distinct workstreams:

Open the MiFID II Overview
Open MiFID II – Investor Protection
Open MiFID – Best Execution
Open MiFID II – Transaction Reporting
Open MiFID II – Algorithmic Trading
Open MiFID II – Pre- and Post Trade Transparency
Open MiFID II – Commodity Derivatives
Open MiFID II – Trading and Clearing
Open MiFID – Data Publication

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