The Beast Apps, a provider of rapidly deployed data, analytics, trading and compliance solutions for the financial services industry, today announced the launch of Minotaur.
Minotaur provides banks with a MiFID II compliance solution that integrates disparate systems for client, sales, and trader workflow across any asset class. The solution helps banks integrate and deploy a comprehensive MiFID II solution well ahead of the January 2018 deadline.
Faced with the urgency of the mandate, the tasks of integrating data, analytics, risk, trading and business process management system components from disparate systems while simultaneously building components such as rule engine and reporting engine to meet the MiFID II demands are resource intensive and cost prohibitive.
Changing the Face of AML with Self Service AnalyticsGo to article >>
MiFID II Solution
Most internal systems were not constructed to meet MiFID II compliant workflow demands for all asset classes and do not ‘speak’ with each other for compliance purposes.
Minotaur has addressed this issue by delivering a solution that integrates various components, regardless of technology and interface, by both function (client, sales, trading or compliance) and asset class. Minotaur has data models for over 100+ On Exchange and OTC trading instruments and new products and asset classes can be easily added.
In addition, Minotaur can be easily integrated with existing components that a client has in order to create a MiFID II compliant workflow solution, or may be used to fill in gaps in existing or planned internal approaches. As a front-end solution it is able to connect to any integration layer in any language or tech protocol and deliver a solution in any format as required by clients.
Vinayek Singh, The Beast Apps CEO, commented: “Regulatory burdens can further add to the costs and resource demands of already stretched IT groups. Minotaur at once allows groups to have the confidence that the regulatory mandate is fully met in a cost effective way, while freeing resources to create added business specific value. For firms that embrace the MiFID II requirements, Minotaur allows them to reevaluate existing business norms and introduce improved optimization and workflow efficiency”.