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

With MiFID II Unbundling Looming, Commcise and TR Roll Out Research Capabilities

Subscribe to our newsletter

Amid media reports that sell-side firms are struggling to settle on commercial arrangements for subscriptions to their unbundled research services post-MiFID II, service providers are starting to roll out solutions aimed at helping buy-side firms receive, manage and pay for research under the new arrangements.

MiFID II will require buy-side firms to justify how they source and what they pay for research and execution. This unbundling of research from execution services is forcing brokers to compete on price and functionality, hence the hand-wringing over how to price and distribute research services.

But while the sell side settles on how to commercialise its research going forward, technology suppliers have begun to incorporate new functionality for handling unbundled services into their offerings.

This week, for example, Commcise announced that Nordea Asset Management had implemented its commission management and research evaluation platform to help it comply with MiFID II’S Research Payment Account (RPA) provisions. The cloud-based CommciseBUY platform is being used by Nordea Asset Management, part of the Nordea group, one of Scandinavia’s largest financial services providers, to ensure fair allocation processing and support the group’s RPA management strategy.

Meanwhile, Thomson Reuters has added MiFID II research unbundling capability to its flagship Eikon market data desktop service. Eikon’s Research Management Console supports seamless request and response capability that allows communication between buy-side firms and their sell-side research suppliers. Eikon’s Research Entitlement API offers contributor CRM integration. As part of the initiative, Thomson Reuters has upgraded its readership reporting systems to offer improved usage tracking for buy-side firms.

The combined platform will allow research consumers to assess sell-side analyst quality, manage entitlements to external research, gain insights quicker through improved research discovery, and effectively evaluate a firm’s research team.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Managing Non-Financial Misconduct Under SMCR

9 October 2025 11:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Non-financial misconduct—encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks...

BLOG

Genesis Global Enhances Financial App Development Platform with End-User Reporting Controls

Genesis Global has announced a significant update to its AI-native application development platform for financial markets, giving end-users direct control over the creation, modification and distribution of reports based on application data. The enhancement marks a shift from traditional development practices, where changes to reporting functions would typically require developer intervention and code adjustments. The...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...