About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

TISA’s MiFID II Technical Solution Gathers Pace, Vendor to be Confirmed by November

Subscribe to our newsletter

TISA, the investing and saving membership alliance, has reported a high-quality response from suppliers to its Request for Information phase towards developing an industry-sponsored technical solution for MiFID II reporting.

Part of TISA’s MiFID II Costs & Charges and Target Market reporting project, which is setting standards and developing a governance framework, the technical solution aims to resolve the problem of delivering European MiFID Templates (EMTs) by asset managers to distributors to a set of common standards.

“Currently there are multiple solutions in place that whilst meeting the need of the relevant legislation have none-the-less introduced substantial costs and created significant complexity with resultant risks. Last December we tested a distributed ledger technology solution via a hackathon. This demonstrated the efficacy of publishing the EMT once and then allowing other firms to access the data. This RFI formed the next step in the process to verify the possibilities for a technical solution and its cost effectiveness,” says Jeffrey Mushens, TISA Technical Policy Director.

“The RFI responses have highlighted that this approach offers material benefits to the industry both in terms of cost reduction and in enhancing accuracy and compliance. We will therefore progress to the next phase which will be to issue an RFP to short-listed vendors in the autumn and, given the quality of the RFI responses, we are confident that we should be able to deliver a solution for the industry by the summer of 2020.”

The 200-member group is currently considering vendor proposals and will announce the selected vendor by November 7, 2019.

TISA’s MiFID II project has already successfully developed open standards for both downstream and upstream MIFIDII reporting, achieved ISO20022 accreditation and delivered an industry standard EFT and guide for Upstream Target market Reporting. TISA’s MiFID II practitioner guides are now being widely adopted and, with the work of the European Working Group (EWG), mean that the data being collected and distributed is in most instances of a standard form, typically via the EWG-sponsored EMT. This progress lends itself to the development of an industry-based solution.

TISA’s MiFID II industry project is overseen by a Steering Group of participating member firms, and the organisation notes that opportunities still exist for asset managers, distributors and service providers to join the group and help in shaping the eventual solution.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to data management for regulatory reporting

Effective regulatory reporting requires firms to manage vast amounts of data across multiple systems, regions, and regulatory jurisdictions. With increasing scrutiny from regulators and the rising complexity of financial instruments, the need for a streamlined and strategic approach to data management has never been greater. Financial institutions must ensure accuracy, consistency, and timeliness in their...

BLOG

A (Free) Practical AI Handbook for Capital Markets Professionals

Artificial Intelligence (AI) has swiftly transitioned from a promising concept into an operational reality across the capital markets. Senior executives, compliance leaders, and technology specialists are already well-acquainted with the potential of AI to streamline processes, enhance decision-making, and open new competitive opportunities. Yet, the current challenge isn’t about grasping AI’s transformative potential – it’s...

EVENT

Data Licensing Forum 2025

The Data Licensing Forum will explore industry trends, themes and specific developments relating to licensing of financial market data from Exchanges and Data Vendors.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...