Markets in Financial Instruments Directive (MiFID) Compliance

The Markets in Financial Instruments Directive (MiFID) has impacted on almost every aspect of business for financial services firms across Europe. New regulation has been imposed on areas as diverse as the management of conflicts of interest, outsourcing, suitability, risk warnings, classification of clients into retail and professional, transaction reporting to regulators, inducements and the publication of quotes and transactions by OTC equity dealers.

All parties that operate in the international capital market must be prepared for change.

TRAX has been developed with the goal of positioning it to meet the needs of financial institutions throughout Europe to comply with increased regulatory reporting requirements under MiFID. It is flexible enough to fulfil varied regulatory reporting requirements of different regulatory authorities in a wide range of financial instruments.

TRAX has been awarded Approved Reporting Mechanism (ARM) status by the Financial Services Authority (FSA) of the United Kingdom, Autorité Des Marchés Financiers (AMF) of France and the Authority for the Financial Markets (AFM) of the Netherlands in conjunction with Article 25 of the Markets in Financial Instruments Directive (MiFID).

MiFID affects:

Asset, pension and investment managers, Investment banks, Brokers, Exchanges, M.T.F’s, Regulators and more. MiFID heavily focuses on market transparency and retail investor protection. It does not matter if you operate in a non regulated market, MTF’s or OTC. MiFID effects you!

MiFID affects the following areas of your organisation:

Compliance, Auditing, Branches, Client Management, Custody, Execution, Human Resources, Information Technology, Legal, Management, Operations, Trading, Back Office and more…

MiFID affects: Buy & Sell Side

Extra data fields and flexible messaging formats mean that TRAX is ready to respond quickly to increased reporting requirements of regulators around Europe as the MiFID legislation is enacted in national markets.

TRAX is the perfect MiFID reporting solution:

• Regulatory reporting hub to facilitate regulatory reporting under
  MiFID Article 25
• Real time trade matching and reporting of bonds, derivatives and
  equities
• ISO 15022/20022 messaging allowing for easy systems integration
• Highly competitive transaction costs
• Rapid identification of problem trades and greatly reduced failed
  trades

If you would like to know more about, regulatory reporting please click here: ‘Regulatory Reporting’.