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: Practical considerations for regulatory change management

Regulatory change management has become a norm across financial markets but a challenge for financial institutions that must monitor, manage and adapt to ensure compliance with both minor and major adjustments to obligations. This year is particularly troublesome, with major upgrades to EMIR Refit, Markets in Financial Instruments Directive II (MiFID II) and Markets in...

BLOG

Barchart and SIGMA Financial AI Announce Strategic Partnership to Enhance AI-Driven Trading Solutions

Barchart, the market data and technology solutions provider, has entered into a strategic partnership with AI-driven trading solutions provider SIGMA Financial AI. The collaboration will combine Barchart’s extensive market data with SIGMA’s advanced AI and machine learning technology to offer enhanced tools and insights for investors and traders. “This partnership is highly synergistic, benefiting both...

EVENT

TradingTech Summit MENA

The inaugural TradingTech Summit MENA takes place in November and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions in the region.

GUIDE

Regulatory Data Handbook 2024 – Twelfth Edition

Welcome to the twelfth edition of A-Team Group’s Regulatory Data Handbook, a unique and useful guide to capital markets regulation, regulatory change and the data and data management requirements of compliance. The handbook covers regulation in Europe, the UK, US and Asia-Pacific. This edition of the handbook includes a detailed review of acts, plans and...