MiFID II – The new mandatory Transaction Reporting Regulations
Enhance your Process Intelligence now!
Investment Managers as well as Brokers will be required to conform to the new MiFID II ‘Transaction Reporting’ regulations under the European Securities and Markets Authority (ESMA) as soon as possible. They are scheduled to come into effect in January 2018.
JobRouter AG is specialized in data exchange that is required in financial message handling, transaction matching, reconciliation and process automation. We work together with Deutsche Börse and other ARMs (Approved Reporting Mechanism) to ensure all the information is delivered efficiently, transparently, and in secure manner.
"With the JobRouter® Platform we have achieved a new level of process automation in all post-trade investment management data processing. As the business environment evolves, our solution is able to handle growing volumes, to provide better flexibility to the front office and to suffer fewer settlement issues while at the same time overall costs are reduced."
Managing Director UK and Ireland - General Manager Banking Solutions
Accelerated Process Intelligence for MiFID II
JobRouter® collects and validates all relevant information and data about the potential securities business from the customer's internal systems. Afterwards, a data comparison with different sources takes place, so that possibly missing data can be enriched. JobRouter® then transfers the bundled information to a certified ARM (Approved Reporting Mechanism).
MiFID II stipulates that only a handful of registered ARMs may report directly to the NCAs (National Competent Authority) in order to ensure the secure transfer of this sensitive information. Therefore, JobRouter® has entered into cooperation agreements with the ARMs soon-to-be registered under MiFID II, such as Deutsche Börse or London Stock Exchange. This means that all information is transmitted transparently and safely. What is your benefit: You achieve greater security and transparency, while your digital processes and tasks are fully automated.
For a comprehensive End-to-End-Reconciliation, JobRouter® retrieves all information about the reported trades directly from the corresponding NCA, like BaFin for instance, and balances them with the original information. A single-sided reconciliation would provide insight into the fact that the data was successfully sent and did arrive - however the form and completeness of these data are ultimately uncertain.
JobRouter® collects all relevant data and information on the customer side and compares it with the data reported via the Reconciliation Reports submitted by both the NCA and the ARM. Since JobRouter® knows the source data and the data transmitted, all parties as well as the receive the assurance that they have fulfilled their obligation to report reliably and have transmitted the information completely.
The flexible JobRouter® dashboard bundles all information on transfer, status and possible errors in one comprehensive view. Users access functions such as status monitoring, business intelligence, error handling and workflow break management. Furthermore, the selectable widgets can be integrated individually: This gives users like e.g. investment managers or brokers different views, in which they receive daily or bundled insights into already matched, pending and mismatched data, as well as the message exchange within a certain period of time. They can initiate various tasks automatically like archiving matched data or re-sending mismatched data.
With the help of our stable, flexible and secure solution for financial reporting you are not only able to rapidly implement all that is required by MiFID II but will gain even more efficiency than before!
Transaction Reporting & End-to-End Reconciliation
(customer | ARM | regulator)
Complete, accurate and timely generation of transaction audits & history
Workflow Break Management and error handling, quick identification of operational risks
Easily configurable to new workflows and rule based routing
Collects required data from your systems and ensures it’s complete
Delivers data to the ARM in the required format and on-time
Provides data to dashboards for Business, Compliance and IT users
Under the new MiFID II rules, the number of data elements that must be reported will increase from 23 fields to 65 fields. Additionally, Investment Management firms (the ‘Buy-side’) can request the Broker firms, servicing their requirements (the ‘Sellside’) to report the transaction details to the authorities on their behalf under the existing MiFID rules. This is known as single-sided reporting.
Not only does this impose more burden on the reporting firm, but the new fields expose considerably more information about the Buy-side’s client – which they may not wish to expose to the Brokers. This raises the prospect of Investment firms having to implement the stringent new reporting requirements from scratch, and in a relatively short timescale. With our help, this will no longer be a problem: JobRouter® offers effective and secure solutions for Transaction Reporting and full End-to-End Reconciliation.
Why choose JobRouter®
The agile digital transformation platform
JobRouter® is an agile digital transformation platform that provides outstanding products in order to exchange data and documents, and digitize all enterprise-grade processes. Our customers benefit from a comprehensive process automation that will help them reduce manual tasks and minimize potential risks and errors.
We are able to equip you to manage, monitor and measure your securities and cash transactions across your business. Based on our agile process automation technology, our trade management solution offers you complete control and transparency, is easy to handle and can be deployed separately or together to meet your particular needs. For financial institutions worldwide, our track record and commitment means that they can operate efficiently today, while confidently facing a future of evolving messaging networks and standards.