ONEaccess, a provider of corporate access and research valuation platform technology, has teamed up with ITG (NYSE:ITG), to jointly roll out a newly integrated solution that streamlines MiFID II regulatory obligations ahead of the legislation’s passage in January 2018.
ITG is an independent broker and financial technology provider – the group’s service suite in tandem with ONEaccess will help simplify the compliance requirements with which many firms have to grapple. The onset of MiFID II is likely to reshape the financial services industry, a development that has served as an impetus for the new solution.
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In particular, the integration between the ONEaccess and ITG solutions will help enable asset managers to meet unbundling requirements under MiFID II. This includes a further selection of tools, such as the ONEaccess Research Valuation Solution, which helps asset managers to monitor, aggregate and analyze all of their interactions with research providers.
Asset managers will also garner access to ITG’s Research Payment Account (RPA), which allows for greater flexibility in fund respective RPA with a research charge alongside execution. This can also be funded with a direct research charge to investors or from a firm’s own P&L.
According to Mike Stepanovich, CEO of ONEaccess, in a statement on the integration: “As MiFID II requirements are unveiled, being able to manage, value and pay for the consumption of research in one place is increasing in importance. We’re excited to work with ITG to bring an integrated solution to the asset management community.”
“ITG’s RPA solution seeks to assist clients with the challenges of MiFID II compliance and reporting, reducing regulatory and administrative burdens and providing payment flexibility. We are pleased to offer this integration with ONEaccess, which delivers important research valuation and broker vote capabilities to our clients,” explained ITG’s Global Head of Commission Management, Jack Pollina, in an accompanying statement.