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
RTS mapping and gap analysis
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
Solidatus unlocks the true business value behind data. A lineage-first approach enables organizations to connect and visualize data relationships across the enterprise, simplifying how they identify, access and understand them. With a reimagined, sustainable data foundation in place, organizations can mine actionable intelligence and solve complex problems to deliver transformational business results.
Solidatus is a member of the EDM Council.