With the implementation of MiFID II just weeks away, Cappitech has once again taken steps to leverage its product suite to better cater to investment firms. Per its latest development, Cappitech has extended its Captivate MiFID II and EMIR reporting solutions to Access Fintech’s client base.
The integration is the latest move by Cappitech to shore up MiFID II reporting solutions capabilities ahead of the January 3, 2018 deadline. The boutique fintech trading and reporting solutions provider has been aggressively expanding up its MiFID II services suite this year, having recently rolled out a new a best execution platform for investment firms.
Last month saw Cappitech Regulation launch a platform towards sell-side firms ranging from brokers to banks. In particular, the platform has helped compare client executions to benchmark rates, while also providing a comprehensive end-to-end process for firms to handle their best execution compliance.
Ronen Kertis, CEO of Cappitech, commented on the new capabilities with Access Fintech: “The integration is expected to be especially useful for asset managers, which have traditionally relied on their counterparties to handle EMIR transaction reporting requirements. However, new responsibility standards under MiFID II have shifted the reporting burden onto many asset managers for the first time.”
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In light of the integration, AccessFintech users will be able to effectively incorporate Capptivate’s MiFID II and EMIR reporting, facilitating regulatory reporting exceptions in its life cycle management portal. Access Fintech is a relatively new entrant to the industry, having only launched back in 2016.
The group is responsible for aggregating a number of tools and services from fintech vendors with in-house technology. The latest integration with Cappitech Regulation is noteworthy for Access Fintech’s customers, given that they can now tap Capptivate to automate the creation and submission of their transaction reports.
This entails some of the most pertinent regulatory reports at the moment, encompassing coverage of MiFID I and MiFID II, EMIR, as well as ASIC regulation – these reports are submitted to ARMs and Trade Repositories (TR). Of note, these are also available as a Best Execution module for investment firms to compare their transactions with benchmark rates, building on Cappitech’s previous product rollouts.
The timing also constitutes a strategic move for Access Fintech – the addition of Cappitech Regulation’s solutions helps fill a vital need for investment firms opting for a turnkey solution to help them comply with the new transaction reporting requirements.
“Capital markets participants find that their ability to absorb new technology is hampered by cost of change in the short term, and process complication in the long term. By integrating with Capptivate, Access Fintech enables the market to consume regulatory reporting services without the complexities of onboarding a new vendor,” explained Roy Saadon, CEO of Access Fintech.