SIX Financial Information has launched a new platform allowing for more efficient electronic exchange of regulatory data between wealth managers, asset managers and banks.
The new platform, is intended to help clients in compliance with EU investor-protection regulations, including the Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation, the second Markets in Financial Instruments Directive (MiFID II) and UCITS, which mean firms will have to exchange data and information about the content and sales of retail investment products.
The platform will bolster SIX’s existing MiFID II data offering and PRIIPs document generation and distribution services, making them easier to access.
It also acts as a central source of investor protection data, allowing for data, information and documents to be structured and exchanged in a standardised way, in the right format for each regulation.
Phillip Lynch, head of markets, products and strategy at SIX Financial Information, said: “With 87 years of experience in financial information services, we specialise in helping firms understand and manage data for regulations.”
“We have taken that experience and collaborated with the industry to develop this mutualised response to the huge challenge that firms will face in managing and exchanging regulatory data and documentation.”
He added: “This platform, with its ‘ready-to-consume’ data, will help banks automate and scale their operations, reducing costs and increasing the speed of compliance.”
