AQMetrics Launches MiFID II Enhancements To Risk And Compliance Platform

Jan 12 2017 | 11:23pm ET

Integrated risk management and regulatory compliance specialist AQMetrics has rolled out new enhancements to its cloud-based platform ahead of the January 2018 deadline for MiFID II compliance. 

The new enhancements will help both buy-side and sell-side firms better prepare for the new regulations a year in advance of the deadline, the company said in a statement. As firms around the globe prepare for MiFID II, there is an increasing focus on finding ways to leverage modern technology to ensure proper compliance with evolving regulations.

Summarizing the changes:

  • An updated Supervisory Control Portal and Risk Register to provide client classification and product appropriateness factors and scoring
  • Additional Risk Monitoring analytics to cater to Best Execution and Transaction Cost Analysis (TCA)
  • A new regulatory reporting solution whereby AQMetrics is authorising as an ARM (Approved Reporting Mechanism) under MiFID II. AQMetrics is currently reviewing several MDP (Market Data Processor) specifications from National Competent Authorities to enable passporting of MiFID II regulatory reporting into all European Regulators.

With the new solution, buy-side and sell-side users globally will be able to prove they have made best efforts to ensure their clients are classified correctly; that appropriate products are being sold to those clients; and that best execution is achieved. Furthermore, transaction reporting through the AQMetrics ARM will ensure that end-to-end MiFID II obligations are appropriately met, the company added.

“We’ve focused on analysing all Regulatory Technical Specifications for MiFID II holistically to provide our clients with a better way to be ready for next year’s deadline,” said Geraldine Gibson, CEO of AQMetrics. “With a comprehensive solution encompassing an efficient user interface, automated data validation, data analytics and an approved reporting mechanism, we’re able to deliver economies of scale to our customers while still maintaining information and cyber security, data management, analytics and regulatory reporting.”

Founded in 2012 and headquartered in Ireland, AQMetrics provides regulatory risk and compliance solutions for financial professionals. The company was the subject of a FINtech Focus article on FINalternatives back in September.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.