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

SIX Stands Ready to Help Firms with MiFID II and PRIIPs Document Exchange

Subscribe to our newsletter

SIX Financial Information is standing ready to help firms meet the data and document exchange requirements of Markets in Financial Instruments Directive II (MiFID II) and Packaged Retail and Insurance-based Investment Products (PRIIPs) – both of which regulations have early January 2018 compliance deadlines.

The company released its Regulatory Document Hub (RegHub) a month or so ago and is now onboarding product manufacturers and customers, and testing the solution in readiness for MiFID II and PRIIPs compliance. It is also working on adding data and document exchange for FIDLEG, the Swiss Financial Services Act that mirrors MiFID II requirements and is expected to come into force some time in 2018.

RegHub was initially developed to support PRIIPs Key Information Documents (KIDs) in line with a compliance deadline of January 2017, which was pushed back by the European Commission to January 2018 after a failure to finalise Regulatory Technical Standards. In consultation with industry, it was then extended to support MiFID II investor protection requirements such as the need for product manufacturers to define target markets for their products and understand from wealth managers who the products have been sold to.

Philip Lynch, head of markets, products and strategy at SIX Financial Information, explains: “Our owning banks said they didn’t have the facility to support such structured requirements, so we collaborated to build the RegHub platform.” The hub is populated by about 500 product manufacturers, although this number is expected to rise to nearer 1,200 by the end of the year, and allows manufacturers to distribute documents in real time to permissioned asset managers and wealth managers through application programming interfaces (APIs).

In response to MiFID II requirements, the hub is connected to the ANNA Derivatives Service Bureau, allowing OTC product manufactures to obtain ISIN identifiers for OTC products. On a broader scale, the platform acts as a central source for investor protection data, allowing product data, information and documents to be structured and exchanged in real-time and in a standardised way with the right format for each regulation. Information and documents can also be requested on demand at the point of sale.

Lynch comments: “The exchange of information in real time has never before been a requirement, but PRIIPS and MiFID II make it a ‘must do’. RegHub, with its ready to consume data, will help banks automate and scale their operations, reducing costs and increasing the speed of compliance.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

Reporting Seen Among Use Cases Benefiting from Cloud-based Data Management for AI

Artificial intelligence is being adopted by financial regulators at pace, putting pressure on the financial institutions that the overseers serve to double down on their reporting capabilities. It’s no surprise to find that the same AI that’s helping regulators can aid organisations in getting those reporting procedures in place. To do so, however, they need...

EVENT

RegTech Summit London

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

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...