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

Etrali Develops Solution for Market Communication Requirements of MiFID II

Subscribe to our newsletter

Financial firms subject to MiFID II must tackle the problem of recording, retaining and providing access to market communications in order to comply with the regulation’s data retention requirements and satisfy any increased regulatory scrutiny of recorded calls and emails.

Robert Powell, global head of compliance and product management at Etrali Trading Solutions, says many firms have much to do to avoid breaching the records retention requirements of MiFID II as they work towards the implementation of the regulation in 2016. He explains: “The average person conducts 10 to 12 times more communication by phone than by email. Considering that one person generates at least 1Gbyte of emails per year, this means there is a huge amount of communications data to be managed in large organisations. We are finding that most organisations are interested in storing the data in an external cloud environment that has the security, encryption and access control they need, but is also cheap enough to store vast quantities of data for the next five years or so.”

Over the next few years, Powell expects firms to move away from the low cost, but difficult to access, tape solutions used to store data and migrate towards digital storage solutions for call recording. Facing the prospect of extended data retention requirements and increased regulatory scrutiny, firms will need to be able to recover data and extract it in a format that is acceptable to regulators. Powell comments: “Our customers are looking for good data centres with secure archiving and reliable indexing. That is what we are looking to deliver to the market.”

While many communications archiving and indexing solutions in the market are designed for US firms that store data in the US and are subject to the Patriot Act, Etrali is focusing on the European market. Powell explains: “If you look historically at the main participants in this market, you see a lot of players based either in the US or North America. For a European organisation, storing data in the US is just not viable, it is not acceptable as a business practice. We are a European-based organisation and our focus is to offer European companies the ability to store data in Europe.”

Etrali’s solution to the data retention and access problem is under development, but Powell notes that it will combine the company’s voice recording and records retention capabilities to deliver a single platform that will allow customers to manage data across the board.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: GenAI and LLM case studies for Surveillance, Screening and Scanning

As Generative AI (GenAI) and Large Language Models (LLMs) move from pilot to production, compliance, surveillance, and screening functions are seeing tangible results – and new risks. From trade surveillance to adverse media screening to policy and regulatory scanning, GenAI and LLMs promise to tackle complexity and volume at a scale never seen before. But...

BLOG

CloudMargin and Derivative Path Partner on Integrated Derivatives and Collateral Management

CloudMargin, the collateral management technology provider, and Derivative Path, the derivatives management platform, have entered into a strategic partnership to deliver an integrated front-to-back workflow for over-the-counter derivatives and collateral management, targeting regional and community banks as well as buy-side institutions. The partnership brings together Derivative Path’s DerivativeEDGE platform and CloudMargin’s cloud-native collateral and margin...

EVENT

AI in Data Management Summit New York City

Following the success of the 15th Data Management Summit NYC, A-Team Group are excited to announce our new event: AI in Data Management Summit NYC!

GUIDE

Regulatory Data Handbook – Fifth Edition

In response to the popularity of the A-Team Regulatory Data Handbook, we have published a fifth edition outlining the essentials of regulations that are likely to have an impact on data and data management at your organisation. New to this edition is a section on RegTech, covering drivers behind the development of innovative regulatory technology,...