AQMetrics, a provider of compliance, surveillance software, and regtech solutions, has augmented its end-to-end risk management suite, catering to buy- and sell-side firms ahead of the passage of MiFID II, per a company statement.
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The Markets in Financial Instruments Directive II (MiFID II) is slated to take effect in January 2018 – ahead of the sweeping legislation, firms are preparing their risk management capabilities as well as overall compliance suites. Presently, AQMetrics utilizes a cloud-based platform that helps strengthen and support the quantification and evaluation of compliance risks.
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Its new upgrades will also bolster a number of key functions, including an updated Supervisory Control Portal as well as Risk Register to help provide client classification and product appropriateness factors and scoring. Moreover, the expansion will also support new risk monitoring analytics, which will facilitate Best Execution and Transaction Cost Analysis (TCA).
Perhaps one of the more integral impacts of the upgrade will be the deployment of a new reporting solution, which AQMetrics is authorizing as an ARM (Approved Reporting Mechanism) under MiFID II. Finally, AQMetrics will also be looking into multiple several MDP (Market Data Processor) specifications in a bid to help garner passporting of MiFID II regulatory reporting into all European Regulators.
According to Geraldine Gibson, CEO of AQMetrics, in a recent statement on the upgrade: “We’ve focused on analysing all Regulatory Technical Specifications for MiFID II holistically to provide our clients with a better way to be ready for next year’s deadline.”
“With a comprehensive solution encompassing an efficient user interface, automated data validation, data analytics and an approved reporting mechanism, we’re able to deliver economies of scale to our customers while still maintaining information and cyber security, data management, analytics and regulatory reporting,” Gibson added.