Shield FC updates data management platform
27 March 2018 London
Image: Shutterstock
Shield Financial Compliance (Shield FC), a regulation technology provider, has revealed its new version of its data management platform and compliance reporting suite.
The new platform aims to meet the data governance and best execution requirements of financial firms.
The second Markets in Financial Instruments Directive (MiFID II), General Data Protection Regulation (GDPR), Market Abuse Regulation, Dodd-Frank and Financial Industry Regulatory Authority all require financial institutions to capture, protect and archive every single interaction for a prescribed period (five to seven years). In the event of an investigation, firms need to perform trade reconstruction of a complete omni-channel communication chain in a timely manner (three to five days).
Building on the existing platform, Shield V2.0, has been developed to specifically meet such requirements.
The platform aggregates and analyses more data sources and delivers a new interrogation engine to meet the specific needs of the compliance team.
Shiran Weitzman, co-founder and CEO of ShieldFC, commented: “We believe that firms need to take a strategic approach in dealing with record-keeping and best execution regulation in a holistic way; one platform that helps them to handle the explosion in eComms as well as streamline and automate compliance processes. Shield V2.0 delivers just that.”
“It goes well beyond the current box-ticking most firms employ when archiving eComms data in discrete silos, which presents a huge problem when trading events need to be reconstructed.”
The new platform aims to meet the data governance and best execution requirements of financial firms.
The second Markets in Financial Instruments Directive (MiFID II), General Data Protection Regulation (GDPR), Market Abuse Regulation, Dodd-Frank and Financial Industry Regulatory Authority all require financial institutions to capture, protect and archive every single interaction for a prescribed period (five to seven years). In the event of an investigation, firms need to perform trade reconstruction of a complete omni-channel communication chain in a timely manner (three to five days).
Building on the existing platform, Shield V2.0, has been developed to specifically meet such requirements.
The platform aggregates and analyses more data sources and delivers a new interrogation engine to meet the specific needs of the compliance team.
Shiran Weitzman, co-founder and CEO of ShieldFC, commented: “We believe that firms need to take a strategic approach in dealing with record-keeping and best execution regulation in a holistic way; one platform that helps them to handle the explosion in eComms as well as streamline and automate compliance processes. Shield V2.0 delivers just that.”
“It goes well beyond the current box-ticking most firms employ when archiving eComms data in discrete silos, which presents a huge problem when trading events need to be reconstructed.”
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