Third Financial selects Qomply for MiFID reporting compliance
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Third Financial selects Qomply for MiFID reporting compliance 30 November 2021UK Reporter: Jenna Lomax
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Third Financial has selected Qomply to provide integrated end-to-end Markets in Financial Instruments Directive (MiFID) transaction reporting accuracy checks within its Financial Conduct Authority-regulated investment platform provider, Third Platform Services.
Third Platform Services uses its front-to-back office software system, Tercero,
to provide a secure and service-led custodial service to wealth management businesses.
The Qomply platform is designed to provide clients with a straightforward, reliable, and
cost-effective data-driven solution for their MiFID II transaction reporting workflow to easily manage the complicated series of validation rules, reporting requirements, and accuracy checks.
Third Financial’s selection of Qomply for reporting services follows Qomply’s new partnership with Euronext, finalised in September. The partnership enablers Qomply to deliver timely transaction data to the regulator.
According to Qomply and Euronext, by linking services, the companies will be able to provide their clients with a solution that reduces cost and eradicates the complications that often come with the integration of separate solutions.
Michelle Zak, director of Qomply, comments: “The Third Financial team shares our ethos of providing exceptional technology and service. We are delighted that they chose Qomply to complement their existing services and to streamline accuracy around MIFID II transaction reporting. We look forward to working with them in delivering unparalleled value and benefits to their client base.”
James Waterman, operations director at Third Financial, says: “By adopting Qomply’s
solution, we have managed to automate a number of aspects of our verification checks, enabling us to greatly improve the efficiency of the overall reporting process.”
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