Misys allows banks to comply with MiFID II via new tool

Wednesday 7 June 2017 13:22 CET | News

Misys has launched a regulatory reporting component that enables banks to meet the deadline of the new Markets in Financial Instruments Directive (MiFID II).

Banks and financial institutions have until January 3, 2018 to comply with the MiFID II that requires greater transparency in data reporting. Misys FusionCapital Regulatory Reporting automates the reporting process allowing banks to increase their efficiency when collecting and managing data.

Built in conjunction with Broadridge Financial Solutions’ Message Automation, the component provides multiple financial instruments including derivatives, bonds and money markets. The FusionCapital Regulatory Reporting also provides transaction and transparency reporting in real-time, in compliance with the Markets in Financial Instruments Regulation (MiFIR) market transparency principles.

Tool users can monitor the compliance status of transactions received from regulatory services through a dashboard that allows correction and automatic resubmission of data to reporting mechanisms.

The solution is part of the Misys Platform as a Service (PaaS) and is available both in the cloud and on premise. The platform aggregates data from Misys FusionCapital core systems, but can also accept data from other trading platforms.

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Keywords: Misys, MiFID II, solution, banking, regulations
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech