Advent Partners creates MiFID compliance guide

Advent Software has teamed up with Investit, to produce a comprehensive guide to MiFD compliance. "MiFID: A Practical Guide to MiFID Compliance; How Advent can help investment management firms", outlines the buy-side impacts of Markets in Financial Instruments (MiFID), and explains how software vendors can help implement MiFID requirements.

 'The guide highlights four main areas where Advent can help fund managers, including compliance, client management, dealing and safeguarding of client assets,' says Hakan Valberg, General Manager, Advent Software EMEA. 'The two Advent products which can be used to help these firms meet MiFID requirements are Advent Portfolio Exchange (APX), its portfolio and client relationship management system, and Moxy, its trade order management system.

'With many of our clients still working through complex MiFID projects and the November 1st deadline quickly approaching, it was important for us to team up with Investit to help our clients understand the impact that MiFID will have on their businesses. Our relationship with Investit enabled us to say with confidence that Moxy and APX can both provide the required functionality to automate MiFID compliance in the areas in which our clients use them.

Clare Vincent-Silk, MiFID consultant at Investit, adds: 'In working with over 20 fund management firms on MiFID projects, we discovered that MiFID project managers were unclear on how software vendors could help them achieve MiFID compliance. While many vendors brand their systems as 'MiFID compliant', they do not clarify how their systems can help with the different areas of MiFID regulations, causing confusion among MiFID project managers at fund management firms. Software is a great enabler and it was very productive to work with Advent to identify those system functions that can assist investment management firms in achieving MiFID compliance."

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