GAM is to use Red Deer’s MiFID II research valuation solution to consume and value research so that it can be paid for independently from trade execution, in compliance with the MiFID II regulations that come into effect on 3 January 2018.
“The solution that Red Deer offers for managing research consumption, research valuation and preventing inducement under the new MiFID II rules will allow us to ensure compliance across all investment teams in all locations. GAM has strong internal research capabilities, and Red Deer’s solution will help us leverage this across our investment business, in addition to managing access to external research,” says Matthew Beesley, GAM’s Head of Equities. “GAM has announced the decision to absorb all research costs from January 2018 as we continue to place clients’ interests first, and Red Deer’s solution will allow us to manage these costs in the most efficient way.”
Red Deer’s MiFID II solution enables firms to address the MiFID II regulations around inducements and research valuation by aggregating all independent and street research, including emails, calls and corporate access events. It also provides full consumption and valuation metrics, such as ratings and read time, and tracks contributions from hard and soft budgets, with alerting to ensure budgetary thresholds are maintained.
Luke Oubridge (pictured), CEO of Red Deer, says: “We are delighted to welcome GAM to our fast-growing client community. It’s a great opportunity to help such a well-established and respected firm achieve compliance, and a chance to add real value to the investment process by improving the quality of front office information for a large number of Investment managers, analysts and traders”.
