Cappitech Partners with Colt PrizmNet for Secure Data Reporting

Regulatory reporting software provider Cappitech signed a partnership deal with Colt PrizmNet. In the run up to the adoption of MiFID II MiFID II MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s fina Read this Term, when increasingly more private and sensitive data will be uploaded, Cappitech is looking to deliver an increasingly secure product.

The regulatory reporting company’s solution Capptivate is a customizable and scalable alternative for adhering to an increasingly complex regulatory framework. The deal with Colt enables Cappitech to take advantage of the company’s financial services extranet Colt PrizmNet, a private network with increased security.

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Capptivate is connecting directly to PrizmNet via a VPN network, which enables clients of Cappitech to have a more secure line through which to submit their reporting data.

Commenting on the deal, Cappitech’s Business Development Manager, Ron Finberg, said: “We are seeing growing interest from financial firms looking towards Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term solutions to increase operational efficiency. But, client and trade data security is still a major concern when deploying products in the cloud.”

Post-MiFID II Increasing Reporting Volumes

The volume of regulatory reporting which financial services companies are required to do is set to increase materially in light of the introduction of MiFID II in 2018. The new regulatory framework is tapping into increasingly private data of clients and the secure handling and delivery of information will be key to the financial services sector.

Capptivate supports proprietary file formats as well as aggregate multiple trade files for companies that use multiple trading platforms and prime brokers.