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.
MiFID II APA Mapping
Solidatus allows an organization to map the MiFID II regulatory requirements on to their reporting implementation to easily visualize and understand the flow, usage and intended usage of data across complex processes spanning reference data systems, trading systems and reporting systems.
RTS Mapping & Gap Analysis
The collaborative design of Solidatus enables an organization to quickly and easily identify any gaps in trade reporting and validate attribute mappings at a logical and physical level.
Visualize Reporting Change
Solidatus’ comprehensive, powerful audit and visual model diffing allows an organization to see how their MiFID data landscape changes over time and to see why changes were made and by whom. It also allows impact analysis to be performed ahead of changes to understand the effect on data consumers.
Solidatus is used by some of the world’s largest financial institutions
See Solidatus in Action
Award-winning Solidatus is empowering enterprises globally to accelerate their understanding and optimization of their data and organizational processes. The Solidatus methodology for digitally transforming organizations to be data-centric and lineage-enabled is changing how businesses discover, document, map and manage their data.
Solidatus is a member of the EDM Council.