Information
Management Challenges
Overview It is difficult
to quantify what increase in data volumes can
be expected or indeed attributed to MiFID (as
opposed to quiescent year-on-year growth). However,
there is credible evidence from the European Commission
technical implementation measures and national
regulator planning documents that MiFID will drive
a number of information management challenges:
- Client
Classification - Review classification
of clients and associated documentation, processes
and systems
- Suitability
& Know Your Customer - Review procedures
for capturing, recording and disseminating ‘know
your client’ information
- Appropriateness
& Execution Only Services - Assess
appropriateness of services based on client
knowledge and experience
- Best
Execution - Monitor venue execution performance
and processes
- Reporting
Information to Clients - Ensure clients
are promptly advised of transaction details
and receive regular statements
- Pre-Trade
Reporting - Systematic Internalisers
must provide firm quotes in ‘liquid’
shares on continuous basis
- Post-Trade
Reporting - All trading venues must make
information about completed transactions in
shares public, as close to real time as possible
- Transaction
Reporting - Transaction reports required
for any instrument admitted to trading on a
regulated market
Oracle's qualitative assessment
of the MiFID provisions identified six key information
management challenges - Volume,
Latency,
Lifecycle,
Quality,
Orchestration
and Access.
These challenges are not insurmountable and the
infrastructure tools and technologies exist to
address them - whether as part of a tactical point
solution or strategic infrastructure component.
The six information management challenges expose
critical building blocks of the Oracle
Regulatory Compliance Information Architecture
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