The Markets in Financial Instruments Directive II (MIFID II)

MiFID II carries a number of reporting and recordkeeping obligations where there is frequent overlap between data sets. These obligations are documented in the Regulatory Technical Standards (RTS) which lists the data attributes that are required to be reported on within MiFID II, so to achieve the objective of enhancing consumer protection, promoting innovation and improving the security of payment services across Europe. 

Regulatory reporting of data attributes

Gap analysis for this data can be performed manually in Excel, but in a siloed fashion between RTS workstreams and repeated by asset class. Solidatus has been used to model data attributes of the RTS workstreams to identify similarities and differences across the reporting requirements and to map the implementation of MiFID II reporting to APAs all the way from golden source systems. Solidatus can highlight where source systems are not mapped and where processes can be simplified. The mapping evolves as a living document of the regulatory lineage implementation supporting both compliance audits and engineering projects.

Solidatus is used by some of the world’s largest financial institutions