April 20, 2018
After the financial crisis and particularly in Europe, recently, where the second Markets in Financial Instruments Directive (Mifid II) aimed to encourage transparency in the markets, many financial institutions were caught under wider, more stringent banking regulations. Without the necessary infrastructure around new compliance and reporting rules, many firms struggled, and found resources stretched.
Those firms caught by the new rules – including the larger, more established banks and trading houses, commodities and energy firms who are required to file Mifid II reports – have had to work tirelessly as the directive has taken shape to get into line with the rules.
However, AxiomSL CEO Alex Tsigutkin says the new regulations have in many ways been a blessing for firms, who had previously overlooked their data management processes. The new regulations, he says, put pressure on firms to reassess those systems, and work out new and innovative ways to process the data they have at hand while considering what they needed to do to comply with the swathes of new rules.
Read the full story on bobsguide.