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The implementation of MiFID II will have a major impact on investment management in the European Union, from changes in venue requirements to execution data tracking and post-transaction transparency. This extensive regulation presents significant changes in the market, trading workflows, the technology required to support the directive, and in the level of regulatory scrutiny.

MiFID II affects all asset classes and various stages of the trading process, including volume caps on equity dark pools, algorithmic trading controls, and increased transparency in fixed income trading. Also included are requirements to track a complex array of data elements throughout the order lifecycle.

While MiFID II’s 2017 go-live date may seem far away, firms should already be planning how they are going to make all the required changes in time to meet the deadline. Charles River recently surveyed EMEA clients to learn their concerns and readiness for MiFID II. We found that the vast majority of clients are being proactive in addressing the regulation. And given increased regulations worldwide, the majority of our EMEA clients are taking a holistic approach to adopting MiFID II’s stringent requirements across their businesses.

Key findings include:

  • Only 6% expect further delays in the regulation
  • 80% are in the early planning stages or have a MiFID II change project fully underway
  • 87% plan to adopt MiFID II regulatory changes globally

As the countdown to MiFID II continues, Charles River encourages all clients to prepare for change:

  1. Start planning for upgrades now – review budgets, hardware/environments & internal resources
  2. Take advantage of our managed services – learn about our front-/middle-office solution delivered as a hosted service
  3. Participate in our client working group – meet regularly, gain updates, provide feedback across jurisdictions, & validate planned enhancements

Find Out More about Charles River’s MiFID ll solution