The companies struggling with the new MiFID II regulations from the European Securities and Markets Authority (ESMA), set to be implemented on 3 January 2018, have got a new boost from Thomson Reuters to meet the stringent demands – Thomson Reuters has integrated and enhanced its flagship financial desktop Eikon with MiFID II research unbundling requirements.
The new features will help brokers to meet the flexible segmentation requirements under MiFID II. It will provide seamless entitlement request and response functionality for the sell-side and buy-side through the Research Management Console, and a comprehensive Research Entitlement API for contributor CRM integration. Thomson Reuters has also enhanced its readership reporting systems with better usage tracking to support the buy-side client.
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The platform will provide clients with the ability to analyse sell-side analyst quality, manage entitlements to external research, gain market depth through improved research discovery, and effectively evaluate a firm’s research team. The feature will help clients to overcome the restrictions imposed by MiFID II on free research and its structure based on specific trading or investing decisions.
Commenting on the developments, Mahesh Narayan, Head of Portfolio Management and Research, said: “The unbundling requirements are a game-changer with respect to the research segment of the financial services industry, forcing companies to radically alter what are long-standing business practices. Our established research capabilities make Thomson Reuters well-positioned to provide unbiased and powerful solutions that help clients navigate and comply with MiFID II research unbundling requirements. In addition to developing our own products, as an open platform, we are committed to partnering with third-parties that add further value to our Eikon users.”
Thomson Reuters earlier teamed up with Tradeweb to roll out a new suite of reporting services and help market participants to meet the new MiFID regulations.