Indata upgrades in MiFID II prep 14 March 2017Greenwich, Connecticut Reporter: Stephanie Palmer
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Software and technology provider Indata has upgraded its iPM Epic software suite in order to improve functionality ahead of the implementation of the second Markets in Financial Instruments Directive, set to come into effect in January 2018.
According to Indata, more than 350 changes were made to address the increased data volumes that clients will have to capture under MiFID II.
User interface and data aggregation tools have been amended to allow data to be collected from external systems. This is intended to allow for more complex compliance rule calculation and more granular management of data.
Equally, data management processes were amended to be more streamlined and efficient in capturing data across the front, middle and back office, offering improve reconciliation and clearer audit trails.
This improved data integrity is intended to meet reporting requirements under MiFID II.
Finally, Indata has improved order management systems around financial information exchange, portfolio modelling and in other areas relating to cross-asset class trading.
David Csiki, president of Indata, said: “At Indata, much of the work that we have done to prepare our clients for MiFID II involves the sophisticated enterprise-wide data management capabilities based on big data technology that are part of our iPM Epic solution which runs through front-middle and back office.”
He added: “Our clients will not only be thoroughly prepared for MiFID II, they will also gain competitive advantages for their businesses in the process.”
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