The passage of MiFID II is less than six months away, heralding a major shakeup in regulations, transaction requirements, and other reporting obligations. With demand for such management solutions and compliance measures reaching a critical mass, Eze Software has launched a new cloud-based commission management platform. The solution will cater to buy-side clients looking to reconcile MiFID II requirements and straight-through-commission management needs.
Eze Software is the latest venue to provide compliance needs for groups ahead of the January 2018 implementation of MiFID II. The investment technology provider’s rollout of a new commission management platform will focus on the full commission management lifecycle – this includes an emphasis on research evaluation, budgeting, unbundling, and the specification of RPA payments.
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MiFID II will necessitate a more rigorous straight-through commission management process on the buy-side. Consequently, venues will face a need for a comprehensive research evaluation process that is calibrated within the MiFID II framework. The group’s newly introduced lifecycle solution will also link up with Eze’s other recently completed MiFID II enhancements.
In particular, the solution encompasses the entire range of full commission management lifecycle. This supports a centralized evaluation, one in which tracking and research components are fed directly into a given budget, where unbundled commission amounts are tracked. Eze Software chose specifically to address this process, helping manage research and client-directed budgets from a singular platform. This will in turn aim to help facilitate the reporting of dedicated trade-allocation and commission data to a composite of teams, clients, and regulators.
Bill Neuman, Managing Director Product Management & Development at Eze Software, commented: “As the buy-side gears up for MiFID II compliance, there is a greater need for a comprehensive, straight-through commission management process. With this platform, we are unifying the disparate elements of the commission management process into a single holistic cloud solution that enables our clients to fully address MiFID II inducement requirements.”
The deployment of its new commission management platform also follows on the heels of Eze Software’s recent promotion of David Quinlan earlier this month. Mr. Quinlan was tasked to lead the group’s business development, specifically addressing client needs relegated to MiFID II. Today’s platform launch is the latest enhancement under his tenure.