MiFID II and RTS 28 Reporting
The original MiFID (Markets in Financial Instruments Directive) impacted UK and European firms, primarily on the sell side. MiFID II, however, not only impacts the buy side, but it casts a wide net that catches any firm servicing clients in the European Union or marketing products there. The effort involved in the new reporting requirements varies with the US Asset Manager’s involvement in the European Union, but unless your firm is US domestic only, you are likely to be affected.
Retooling your Order Management System may be one requirement that you won’t be able to overlook if MiFID II applies to your firm. From decision support, to trade execution, to reporting and the long-term retention of records – the impact on order flows spans the entire trade life cycle. If you aren’t on track, or just getting started, contact IMP Consulting to help.
How IMP Can Help
Search & Selection - if your current vendor can't help you with MiFID, IMP can help you to find a new vendor for upgrades.
Enrich data in your current OMS.
Extend data, and help with reporting, including the ability to build reports outside of the system.
Verify that your firm is MiFID compliant, including data compliance.
Check compliance rules to check if they meet MiFID requirements.
Sync compliance library with relevant requirements or trades. If any issues, IMP can help to update the compliance rule library.
Best Execution & Transaction Cost Analysis (TCA)
MiFID II Resources
Podcast: MiFID II Best Execution: Top 5 On and Off Venue Reporting Requirements
Podcast: MiFID II Best Execution: Demonstrating Best Execution
Podcast: MiFID II Best Execution: What Makes MiFID II So Challenging?
Podcast: MiFID II Best Execution: How One Firm Addressed The Challenge
Video: What Is Best Execution? (In just 2 minutes)
Video: How Could MiFID II Hit Your Front Office?
Video: Publish, Report or Perish - Trade Publication vs. Transaction Reporting
Video: Implications for Non-EU Asset Managers
Video: Will You Be MiFID II Compliant: 5 Areas of Focus
PDF: Fixed Income Best Execution Checklist
PDF: MiFID II: RTS & The 4 Biggest Changes to Best Execution
PDF: MiFID II Acronym Guide
MiFID II Articles
Article: RTS 28 and Five of the Biggest Changes for MiFID II Best Execution
Article: MiFID II Across Five Areas of Focus
Article: MiFID Who? Three Immediate Areas Where Non-EU Compliance Teams Need to Pay Attention
Article: The Rise of MiFID II, Does it Apply to You?
As of April, 2018, EU regulators require that money managers be able to prove, on-demand, they have achieved best execution for their clients. Watch our quick 2 minute video and find out what this means for your firm.
IMP Consulting is proud to be a UnaVista Partner!
UnaVista is London Stock Exchange Group’s hosted technology platform, helping firms reduce operational and regulatory risk. The platform assists over 5,000 counterparties reporting in excess of 5 billion transactions annually with 60,000 users in 86 countries.
UnaVista's Partner Programme brings together the world's leading financial services technology and consultancy firms to help the markets become more efficient and reduce operational and regulatory risk. Located in more than 200 cities around the world, UnaVista’s partner ecosystem provides clients with a wide variety of options to comply with regulations across the globe such as MiFID II, Global Derivative Reporting, CAT, MAR and many more.
Schedule a Call to Discuss Your MiFID II Needs
For an initial consultation, please fill out the form below to schedule a call with IMP Consulting.