Miura Consulting launched of their new MiFID II Regulatory Portal, in partnership with SAS, the analytics leader. The Portal is now supporting Investment firm clients with a “one-stop-shop” MiFID II Regulatory Solution. Miura’s portal is unique in that it not only identifies each output an organisation requires to comply with the MiFID II regulation, it has pre-configured compliance documentation templates and reporting functionality to fulfil each output, and monitoring functionality to ensure compliance with MiFID II does not lapse in the future.
MiFID II is designed to take into account developments in the trading environment since the implementation of MiFID in 2007 and, in light of the financial crisis, to improve the functioning of financial markets making them more efficient, resilient and transparent. The key regulation is contained in approximately 500 articles on thousands of pages of text, with numerous supporting documents released by ESMA on an ongoing basis.
Miura’s MiFID II Regulatory Portal seeks to solve the complexity of this problem through its cloud-based portal. Miura’s portal highlights each output an organisation requires to comply with each article of the regulation, reducing the time to perform a MiFID II gap analysis by over 50%. It’s pre-configured templates and reporting functionality (e.g. Best Execution, MIFIR Reporting), furthermore cuts down greatly the time to implement a MiFID II programme. Finally, the MiFID controls module monitors each compliance checkpoint daily and prevents large fines by ensuring compliance with the regulation does not lapse in the future.
The Miura Regulatory MiFID II Portal is a new technology offering from Regulatory specialist’s, Miura Consulting. Miura’s suite of systems has been built and refined by a team of financial systems experts over the past three years. Miura’s Regulatory MiFID II Portal offers its clients all the benefits of quick lead-time, cost-effectiveness and efficiency without burdensome implementation costs. Miura’s large team of experienced consultants are always on hand to support the implementation, should you require it.
“With the new responsibilities for regulatory compliance on the shoulders of Senior Management, we want to be able to provide a solution where they can log onto our portal and for every relevant article of the regulation see which piece of their business functionality satisfies each regulatory point, and provide the level of confidence that their organisation is truly compliant with a regulation like MiFID II,” says Alex Martin, Founder of the Miura Regulatory Portal.
Miura has already spent the last 6 months getting one of their beta clients “MiFID II Ready”, 12 months ahead of the deadline. “We have had to mock up a lot of the data for testing of their Best Execution and Transaction Reporting for this client, as a lot of the other players in the market are ready with the right input data,” explained Martin.
