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: A practical guide to dual UK and EU regulatory reporting as the Temporary Permission Regime comes to a close

The Temporary Permission Regime (TPR) allowing capital markets participants in the European Economic Area (EEA) to continue to operate in the UK post Brexit will be withdrawn by the end of 2023, calling on firms that want to stay in the UK to gain full authorisation from the FCA and prepare to comply with both...

BLOG

Push Technology Rebrands as DiffusionData and Sets Out Market Alignment Strategy

DiffusionData, formerly known as Push Technology, a pioneer in real-time data streaming and messaging solutions, today announced the final details of the company’s business realignment strategy and launched its new name and brand. The company’s stated mission under the new branding of DiffusionData is to manage and reduce the costs of data consumption, transformation and...

EVENT

RegTech Summit APAC

Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...