The Beast Apps, a provider of data, analytics, trading and compliance solutions for the financial services industry, has launched Minotaur, a MiFID II compliance solution that integrates disparate systems for client, sales and trader workflow across any asset class.
Minotaur is designed to help banks integrate and deploy a comprehensive MiFID II solution well in advance of the January 2018 deadline.
Regardless of complexity or system, Minotaur integrates various components, regardless of technology and interface, by both function (client, sales, trading, or compliance) and asset class. Minotaur has data models for over 100+ On Exchange and OTC trading instruments, and new products and asset classes are easily added.
It can be integrated with existing components that a client has to create a MiFID II compliant workflow solution or can be used to fill in gaps in existing or planned internal approaches. As a front-end solution Minotaur can connect to any integration layer in any language or tech protocol and deliver on its solution in any format needed by clients.
Vinayek Singh (pictured), The Beast Apps CEO, says: “Regulatory burdens can further add to the costs and resource demands of already stretched IT groups. Minotaur at once allows groups to have the confidence that the regulatory mandate is fully met in a cost effective way, while freeing resources to create added business specific value. In addition, for firms that embrace the MiFID II requirements, Minotaur allows them to re-evaluate existing business norms and introduce improved optimisation and workflow efficiency.”
Said Ashok Mittal, The Beast Apps president, says: “The Beast Apps has a complete asset class neutral client-sales-trader MiFID II compliant workflow ready and available, today. Just as business and project coordination must occur between compliance, business, and IT teams to meet the regulation, so the underlying systems must also be coordinated and integrated to effectively comply with a MiFID II compliant system. Minotaur’s versatile portability layer eases pains in bringing various components together quickly, its asset class neutral data model means all products can become MiFID II compliant, and its rich UI layer allows one to create a complete client-sales-trade workflow solution ready much before the deadline.”