Trade Informatics launches MiFID II tool
24 October 2016 London
Image: Shutterstock
US financial technology provider Trade Informatics is tackling the best-execution and governance requirements of the second Markets in Financial Instruments Directive (MiFID II) with the European launch of its PLIA process management solution.
According to Trade Informatics, the cloud-based counterparty management and compliance tool comes as a response to regulatory requirements in Europe, and for an electronic trading information platform.
PLIA is intended to reduce operational overhead by making the process of meeting information requests more systematic and streamlining the transfer of due diligence information between asset managers and brokers.
It provides a central repository of questions and responses, audit trail history, analysis and compliance reporting on request, and due diligence committees and regulatory audits.
The platform also allows for customised solutions for asset managers, and, as well as its MiFID II capabilities, it is designed to support regulatory requirements in the US, Europe and Asia.
Allan Goldstein, COO of Trade Informatics, said: “The sheer bulk of MiFID II requirements and the continuing drive for operational efficiencies mean that the age old solution of 'throwing people at a problem' is simply no longer tenable.”
He added: “The clear solution for counterparty management requirements is automation and, with over one hundred global buy- and sell-side firms already using it, PLIA is rapidly filling this gap.”
Ana Burke, PLIA product manager, commented: “We are delighted to be extending our PLIA web-based software to a European audience. Our clients are globally focused and have been finding great value in using PLIA’s database of questions and ad-hoc data request coverage to answer European regulation and enterprise–wide efficiency.”
PLIA was developed with help from the US Securities and Exchange Committee and Financial Industry Regulatory Authority as well as regulatory organisations in the UK and Europe. Trade Informatics also sought insight from both buy- and sell-side firms and legal and regulatory professionals.
According to Trade Informatics, the cloud-based counterparty management and compliance tool comes as a response to regulatory requirements in Europe, and for an electronic trading information platform.
PLIA is intended to reduce operational overhead by making the process of meeting information requests more systematic and streamlining the transfer of due diligence information between asset managers and brokers.
It provides a central repository of questions and responses, audit trail history, analysis and compliance reporting on request, and due diligence committees and regulatory audits.
The platform also allows for customised solutions for asset managers, and, as well as its MiFID II capabilities, it is designed to support regulatory requirements in the US, Europe and Asia.
Allan Goldstein, COO of Trade Informatics, said: “The sheer bulk of MiFID II requirements and the continuing drive for operational efficiencies mean that the age old solution of 'throwing people at a problem' is simply no longer tenable.”
He added: “The clear solution for counterparty management requirements is automation and, with over one hundred global buy- and sell-side firms already using it, PLIA is rapidly filling this gap.”
Ana Burke, PLIA product manager, commented: “We are delighted to be extending our PLIA web-based software to a European audience. Our clients are globally focused and have been finding great value in using PLIA’s database of questions and ad-hoc data request coverage to answer European regulation and enterprise–wide efficiency.”
PLIA was developed with help from the US Securities and Exchange Committee and Financial Industry Regulatory Authority as well as regulatory organisations in the UK and Europe. Trade Informatics also sought insight from both buy- and sell-side firms and legal and regulatory professionals.
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