RegTech company AQMetrics has enhanced its end-to-end risk and compliance solution to help buy-side and sell-side firms better prepare for MiFID II.
The recent enhancements include: an updated Supervisory Control Portal and Risk Register to provide client classification and product appropriateness factors and scoring; additional Risk Monitoring analytics to cater to Best Execution and Transaction Cost Analysis (TCA); and a new regulatory reporting solution whereby AQMetrics is authorising as an ARM (Approved Reporting Mechanism) under MiFID II.
AQMetrics is currently reviewing several MDP (Market Data Processor) specifications from National Competent Authorities to enable passporting of MiFID II regulatory reporting into all European regulators.
With AQMetrics’ MiFID II solution, buy-side and sell-side users will be able to prove they have made best efforts to ensure their clients are classified correctly; that appropriate products are being sold to those clients; and that best execution is achieved. Furthermore, transaction reporting through the AQMetrics ARM will ensure that end-to-end MiFID II obligations are appropriately met.
“We’ve focused on analysing all Regulatory Technical Specifications for MiFID II holistically to provide our clients with a better way to be ready for next year’s deadline,” says Geraldine Gibson (pictured), CEO of AQMetrics. “With a comprehensive solution encompassing an efficient user interface, automated data validation, data analytics and an approved reporting mechanism, we’re able to deliver economies of scale to our customers while still maintaining information and cyber security, data management, analytics and regulatory reporting.”