InfoReach, a provider of multi-asset electronic trading technology for capital markets, has incorporated MiFID II support into its solutions.
With the deadline for MiFID II set for January 3rd, 2018, the company has announced support for the directive for its EMS, OMS and FIX engine products. The internal program will provide functionality and support for its clients to be compliant with the relevant Regulatory Technical Standards (RTS) outlined in MiFID II.
With reporting and data handling in need of adjustment to address the requirements, InfoReach has also integrated with APA (approved publication arrangements) providers for Trade Reporting. It is also partnering with ARM (approved reporting mechanism) providers for transaction reporting.
Founded in 1995, Chicago-based InfoReach provides software solutions for electronic trading, including OMS and EMS platforms for global equities, futures, options, forex, and fixed income. Its trading systems enable clients to plan, monitor, and prove the best execution across all asset classes. The company’s solutions use state-of-the-art visual tools for real-time data monitoring, alerting and reporting.
With the deadline for MiFID II fast approaching, European banks are scrambling to make sure they have certain requirements in place.
Earlier this month, The Association of German Banks criticised the regulation, stating that German banks will have to cover the €1bn of costs needed to set up the technical infrastructure required for directive.
Michael Kemmer, the general manger of the association, said the new regulation ‘undermines the trust’ between the customer and bank, and will create an ‘information overload’ for bank customers.
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Copyright © 2018 RegTech Analyst
