EliData the Milan based company of the CAD IT Group, specialized in the development of trading and order routing applications, and leader in Italy in MiFID 2 and EMIR reporting, has made available a new monitoring and reporting module to the first batch of their banking and broker clients. The new module is tailored to be compliant with the MiFID 2 Directive, that will come into force on 3 January 2018.
The data can be viewed in a practical dashboard and searched via an interactive navigation system, that makes the module easy to consult and customizable, depending on the audience: traders, compliance, or management.
The MiFID 2 Module allows for monitoring, among other things, for triggering of the systematic internalizer thresholds and the five top execution venues, with a simple and effective graphics interface. The order executions can be analyzed as single events, as parts of orders, or by ISIN.
The control and monitoring processes can be run through a central reporting system that acts as single cross-asset repository database. The database can serve not only for regulatory purposes, but also as an integrated tool to carry out operational controls, analyses and statistical elaborations.
“With MiFID 1, Dodd-Frank, EMIR, FinfraG, and now MiFID 2, we have continuously developed and adapted our applications, not just pursuing the objective of regulatory compliance adding up stand-alone modules, but with a strategic design of providing our clients with an integrated system that could manage all the securities data and procedures, either at banks or brokers.” Says Marco Connizzoli, CEO of EliData.
“Our mission is to simplify the whole securities value chain, allowing our clients to replace obsolete legacy processes, as well as applications managed by non-strategic third party providers, and consequently optimizing costs and resources.” – Connizzoli adds – “The solutions offered by EliData are very flexible and easily adapt to both new regulations and changes to current ones”.