Introduction
to MiFID
Overview
MiFID introduces a consolidated
regulatory framework for European markets in financial
instruments. It's purpose is to offer retail investor
protection and provide an investment services
'passport' to market transparency.
Early adopters are also recognising
that there is as an opportunity to seek competitive
advantage by reviewing the business models and
driving new value propositions in order to exploit
new markets, instruments and geographies.
Under MiFID, market participants
will be able to access the market in any EU country
on the same terms and conditions as they transact
business in their home country. MiFID is part
of the EU Financial Services Action Plan (FSAP),
one of the Lisbon 2000 Strategy reforms to create
a single market for wholesale financial services.
It is due to come into force on November 2007
and is arguably the most significant financial
markets reform ever to be undertaken.
As well as providing a coherent
and risk-sensitive framework for Pan European
order execution, MiFID is recognised by many firms
as an opportunity to review business models and
drive new value propositions. Others are seeking
to take a more proactive approach to managing
regulation in order to reduce costs. The industry
is therefore recognising the fact that a business-led
impact analysis is critical to any firm's
review of MiFID.
Information
Technology is one of the many pillars supporting
the resulting business case with an assessment
of new business services, the impact on existing
operations, the management of implementation timescales
and the review of security models and industry
standards.
As the world's largest enterprise
software company, Oracle
is assessing the information management challenges
and working with the industry to drive market-led
solutions that will enable firms not only to achieve
compliance but also to create opportunity.
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further
Information
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