Data storage in post-MiFID era

SunGard has recently announced the launch of its "MiFID Hub", a sofware solution which should enable financial institutes to comply with the data storage requirements of MiFID (Markets in Financial Instruments Directive). The MiFID Hub is said to contain the experiences and ideas of more than 70 financial institutes, which were participants at MiFID workshops organized by SunGard and held in Frankfurt, Brussels, London and Stockholm. More than 70 percent of the workshop participants are convinced that they need to expand their data storage functionalities in order to comply with the EU directive.

MiFID requires financial institutes to store various financial data for a minimum of five years. MiFID will also make the tasks of archiving, input and dissemination of financial data much more complex than under existing regulation or corporate strategies. Transaction and ticker data as well as client and marketing documentation, for instance, must be stored in such as way that every phase of the order execution can be reconstructed after several years.

Source: Compliance-Magazin.de


Search


 

Categories


Archive


Last Entries