Leading cloud-based risk and compliance platform adds features to help buy-side and sell-side better prepare for MiFID II obligations
Leading RegTech company, AQMetrics, today announced new enhancements to its end-to-end risk and compliance solution as part of its award-winning cloud-based platform. These enhancements will help both buy-side and sell-side firms better prepare for MiFID II (Markets in Financial Instruments Directive II), a year in advance of the regulatory deadline of January 2018.
The recent enhancements include:
• An updated Supervisory Control Portal and Risk Register to provide client classification and product appropriateness factors and scoring
• Additional Risk Monitoring analytics to cater to Best Execution and Transaction Cost Analysis (TCA)
• A new regulatory reporting solution whereby AQMetrics is authorising as an ARM (Approved Reporting Mechanism) under MiFID II. AQMetrics is currently reviewing several MDP (Market Data Processor) specifications from National Competent Authorities to enable passporting of MiFID II regulatory reporting into all European Regulators.
With AQMetrics MiFID II solution, buy-side and sell-side users globally will be able to prove they have made best efforts to ensure their clients are classified correctly; that appropriate products are being sold to those clients; and that best execution is achieved. Furthermore, transaction reporting through the AQMetrics ARM will ensure that end-to-end MiFID II obligations are appropriately met.
“We’ve focused on analysing all Regulatory Technical Specifications for MiFID II holistically to provide our clients with a better way to be ready for next year’s deadline,” said Geraldine Gibson, CEO of AQMetrics. “With a comprehensive solution encompassing an efficient user interface, automated data validation, data analytics and an approved reporting mechanism, we’re able to deliver economies of scale to our customers while still maintaining information and cyber security, data management, analytics and regulatory reporting.”
As firms around the globe prepare for the January 2018 MiFID II deadline, there is an increasing focus on finding ways to leverage modern technology to ensure proper compliance with evolving regulations. By leveraging AQMetrics advanced technology and extensive understanding of the regional and global regulatory landscape, financial firms can be better prepared for regulatory changes as and when they happen.
As AQMetrics continues to add enhancements to meet evolving client needs, the company has received a number of industry accolades noting its success in delivering innovative products to financial professionals. The company was recently voted the best compliance product for small and start up (Hedge Fund) firms at the 2016 HFM European Hedge Fund Technology Awards. AQMetrics was recently chosen by KPMG and H2 Ventures as one of the 50 emerging fintech stars in the annual 2016 Fintech 100 list and was listed by Irish Tech News as one of the Top 20 Irish Fintech companies in 2016.
