Like many other regulations coming into force in the next 36 months, MiFID II is calling for enhanced monitoring, transparency and control of the end-to-end trade lifecycle.
The regulation demands increased operational efficiency, control to mitigate market abuse and safeguard investors. While for some this task might not be overly onerous due to existing internal control processes, many companies are faced with the task of building processes and controls on top of their existing infrastructure to cover the various aspects of this far reaching regulation.
To fully comply with MiFID II Transaction Reporting, companies have to demonstrate that they have full oversight and control of the full trade lifecycle. To do so will require a series of interconnected reconciliations and the ability to keep track and resolve any issues as they occur. This is far from easy to do when there are a number of systems and teams involved throughout the process.
AutoRek advocates that automating these reconciliations and creating a golden source of transactional data will significantly reduce 'noise' on a day-to-day basis, together with providing an auditable control environment to ensure that the data reported to the ARMs (Approved Reporting Mechanism) is internally verified and validated.
AutoRek can assist you with complying with the Regulatory Technical Standards (RTS) by creating a control framework that will monitor all trades and escalate issues to the right people both internal and external to your organisation.
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