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MiFID (Market in Financial Instruments Directive) will come
in to force in November 2007. Becoming compliant with MiFID
will require IT and operational changes for both buy-side and
sell-side firms. In addition, MiFID is expected to change the
financial markets over time and therefore firms also need to
consider its impact on strategy and business positioning.
Lysis has extensive experience of the multiple activities required
to successfully prepare for MiFID: |
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Cross
Asset Class Trading and Operations will become a major
competitive differentiator between larger firms. |
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Order
Management, Trading and Best Execution must be MiFID
compliant and will also become a key battleground for market
share. |
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Market
Data Management will become much more complex as many
more sources of market data are created and the need to analyse
and integrate them to ensure best execution will be a significant
burden on firms offering best execution. |
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Accurate Enterprise
Data will become more important under MiFID and firms
must be able to demonstrate the ability to assess and classify
new and existing clients in terms of suitability as counterparties
in specific types of deal. |
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Firms must
be able to demonstrate on-going Compliance
Monitoring, Reporting and Archiving - i.e. the ability
to self-regulate and report on their MiFID compliance. |
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Many firms
are establishing a Programme Office
to co-ordinate and support MiFID initiatives. |
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MiFID contains
a restated regulatory focus on Business
Continuity Planning. |
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