MiFID
is about compliance and business led change -
In this climate of enforced regulatory change
and competitive pressure there is an obligation
on IT to improve preparedness - consider the following
critical drivers ...
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Business
Services: What
are the key business services that your organisation
is putting in place to respond to MiFID and
is there first mover advantage? How can these
prioritised business services be addressed
from an IT perspective? What governance models
are you putting in place to ensure appropriate
communication amongst all stakeholders? |
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Operations Management
& Monitoring:
How does the business impact analysis affect
existing operations management? How can MiFID
changes be aligned to existing strategic and
tactical programmes? How can you leverage
existing budgets and resources in order to
manage costs? |
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Data
Management: How will your existing
IT infrastructure support any new requirements
to store customer data, report transaction
data, publish price data or employ aggregated
data sources to support best execution? Do
you adopt a tactical but silo'ed solution
approach or leverage an integrated information
architecture that provides a flexible IT infrastructure
more readily able to exploit dynamic regulatory
change? |
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Security:
Greater transparency conflicts with the idea
of greater centralised control and security;
how can you ensure greater transparency whilst
controlling access and auditing change to
data? |
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Standards:
How may standards support venue, instrument
and entity identification as critical elements
of a trade-by-trade data acquisition and reporting
platform? How will MiFID drive existing and/or
new message standards to support new business
flows? |
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Timescale: Timescales
for implementation are tight so how will be
schedule IT systems design, build and test?
In this climate of enforced regulatory change
and competitive pressure, how do you to improve
preparedness? |
