As the date on the calendar draws near to the passage of MiFID II legislation in 2018, many firms are preparing for the new regulation. In light of the upcoming shift, independent execution broker and financial technology provider ITG has partnered with Commcise to pursue a new research solution for MiFID II.
Commcise is a provider of integrated commission management solutions for investment management firms – the group’s collaboration with ITG will see the two pioneer research payment and management technology solutions, combining their capabilities to offer a new seamless end-to-end MiFID II research solution.
As such, the solution will help allow asset managers to administer and facilitate the more comprehensive research management process from trade unbundling, reconciliation, budgeting, vendor due diligence, invoice management and research consumption tracking, among other functionalities.
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Shifting Playing Field
The passage of MiFID II will necessitate more emphasis on research spending from asset managers, which has served as an impetus for the new solution under ITG and Commcise. The new solution is important as it will also help ensure that all trading activity is unbundled from research fees, allowing for more fair-allocation of research charges to fund level.
According to Amrish Ganatra, Managing Director at Commcise, in a statement on solutions launch: “We are very pleased to announce our latest integration with ITG, a market leader in the provision of investment solutions and RPA custodial aggregation services. This is further evidence of the open nature of our platform.”
“Commcise are focused on delivering the most regulatory compliant solutions to our clients and this integration with ITG allows firms to manage the end-to-end process in a simple way. Through our combined technology offering, industry expertise and global network, we help asset managers evidence compliance with the MIFID II regulations today,” he added.
“This integration with Commcise enhances the value of our comprehensive research payment account solution. With MiFID II fast approaching, investment firms need to rethink their research spend processes and ensure what they have in place is compliant with the new regulations. By collaborating with key partners like Commcise, we can help clients have the best end-to-end solution, meeting their investment research needs as well as their regulatory obligations,” explained Jack Pollina, Managing Director at ITG, in an accompanying statement.