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As of 2018, MiFID II will provide a wide range of new and more restrictive regulations regarding investor protection. Especially, investors are now entitled to more extensive and more detailed information about the service costs of the intermediary, any commission payments for the distribution of financial products and about the internal costs of a product (e.g. management fees). The information has to be provided prior to an investment decision – as an assessment, if required – as well as during the lifetime of an investment. Moreover, the impact of costs on the return on investment has to be illustrated.
Currently, this information is not or only partly determined by settlement systems. Evaluations models for future costs in particular, have to be implemented independently from subsequent posting in back office systems. The great variety of fee models necessitates a highly flexible solution.
Our product m:Cost automatically calculates these amounts and considers any existing individual conditions of a customer. Furthermore, a company's best execution policy will also be evaluated in order to gain information such as trading centre and custodian. The reference data and assumptions required for this purpose can be stored in flexibly definable models and can be evaluated in a fully transparent and traceable way. Configurability via a script language allows for the representation of almost any cost structures and price models. All processes will, of course, be documented in an audit-proof way.
Therefore, m:Cost enables financial service providers to cover the requirements concerning investor protection and disclosure of costs via a standardised and stable framework which meets all requirements of large financial institutions for operating a state-of-the-art infrastructure. This allows for traceable and clean implementation of cost transparency relating to investor protection.
We have hosted a 60 minute webinar discussion witin industry experts on investor protection and cost transparency under MiFID II (Article 24). Learn what Werner Schorn (Erste Group), Martin Hofer (Raiffeisen Bank International), Subbu Loganathan (Almeda Partners) und Wolfgang Göb (SDS) think about the challenges occurring with MiFID II cost transparency.
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In our 60-minute webinar the MiFID II experts Dr. Zsolt Wieland and Dr. Akos Ferenc Tisza-Papp (OTP Bank) as well as Dr. Wolfgang Göb (SDS) provide insights into the current market situation and information on how FIs can get ready for future tasks. Learn more about:
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