The EU Market in Financial Instruments Directive 2 (MiFID 2/MiFIR) represents latest challenging regulatory development for Financial Institutions in terms what and where they undertake trading activity.
The intention is to include everything that is traded and covers specifically Reporting, Market Infrastructure requirements (Managed/Organised Trading Facility, Systematic Internaliser), Market Abuse, Algorithmic/High Frequency Trading, & Commodity Derivatives. MiFID 2 follows on from MiFID and European Market Infrastructure Regulation (EMIR).
This really is the last of ‘big ones’ in Regulatory Reform. As Mark Carney, Governor of The Bank of England, stated in November 2015:
“There is no other big wave of capital regulation coming.”
Its technical complexity has resulted in a delay of one year giving Regulators and Firms a realistic opportunity to get their systems and processes fit for purpose. A clear understanding of impact, dependencies, and scope is key to delivering success.
CGI with our blend of managed services and integration capability, is uniquely placed to help you cost effectively meet the MiFID 2 implementation date of 3rd January 2018. Our MiFID 2 skilled resources, proven project delivery methodologies and global reach can assist you by:
- Delivering complex technology enabled Regulatory projects
- Managing MiFID 2 Project work streams using proven methodologies
- Augmenting existing teams on Regulatory driven projects
- Reducing the cost of implementing MiFID 2.