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

IHS Markit and Deloitte Partner, Addressing MiFID II Compliance and Re-papering

Subscribe to our newsletter

Building on its launch of the Outreach360 regulatory compliance communication platform last month, information and analytics solutions provider IHS Markit has partnered with Deloitte to make the consultancy’s regulatory advisory expertise available as a managed service on the platform, according to officials of the companies.

The partnership of IHS Markit and Deloitte is offering MiFID II data standardisation, client outreach and counterparty terms of business re-papering services. “The industry is deciding what technology to use and how to resource client outreach staff,” says Darren Thomas, managing director and head of Counterparty Manager at IHS Markit. “Buy-side firms will use the [Outreach360] platform to reach out to their brokers and dealers.”

IHS Markit is working with Deloitte to define MiFID II requirements for their clients and show how compliance measures should be implemented. With Outreach360 as a collaborative platform, Deloitte’s resources, advice and consulting will help users establish and launch regulatory compliance efforts, according to Thomas, so they may “track workflow in progress for compliance before January 3 [MiFID II effective date].”

The combination of Deloitte’s services and IHS Markit’s platform will also support “re-papering,” the updating of business terms of accounts to address new regulations affecting pre- and post-trade transparency, market structure, order routing and classification of clients, according to Thomas. “Re-papering means 30,000 to 60,000 clients have to be reached in the next five to six months,” he says.

Outreach360 is attached to IHS Markit’s Counterparty Manager platform, which has a community of more than 10,000 buy-side firms and corporates, and over 200 banks. “If they’re not members of Counterparty Manager already or members of that financial community, you can still outreach through the platform using an email address and custom branding,” says Thomas. “[The platform] brings people back to a common place and a common way to fill out the requirements, get the terms of business and answer the questions the bank requires of them to continue trading.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to move to a modern, component based trading architecture using a Buy AND Build approach

To remain competitive in today’s electronic markets, firms need trading architectures that support rapid innovation, effortless integration of new capabilities, and the agility to respond to shifting market demands. This is prompting technology leaders to move beyond the traditional “Buy vs. Build” debate, a false dichotomy that oversimplifies the choice between generic, off-the-shelf platforms and...

BLOG

FPGA-Accelerated Engine from Exegy Will Power EU’s First Equities Consolidated Tape

EuroCTP, the joint venture of 15 European exchange groups selected by the European Securities and Markets Authority (ESMA) to deliver the EU’s first real-time consolidated tape for shares and ETFs, has named Exegy as its core technology partner. Exegy’s FPGA-accelerated ticker plant will serve as the data normalisation and consolidation engine at the centre of...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Third Edition

Welcome to the third edition of the Entity Data Management Handbook which is available for free download. In this updated edition we delve into the role entity data plays in the smooth running of financial institutions and capital markets, the challenges of attaining high quality data, and various aspects, approaches and technologies involved in managing...