REGULATION

Cheyne Capital to use Red Deer for unbundling compliance

Asset manager looking to manage research budget and be alerted to possible inducements.

By Editorial editors@thetradenews.com October 10, 2017 10:20 AM GMT

Cheyne Capital  Management has announced it will use Red Deer to help it manage its unbundled research consumption after MiFID II.

It will use Red Deer to manage valuations and inducement requirements across its business in order to comply ahead of the 3 January 2018 for MiFID II.

All independent and street research in various forms, including email, calls, chats and corporate access events will be monitored by Red Deer to ensure inducement rules are not breached. It will also provide full consumption and valuation metrics, including ratings and read time and can track contributions from hard and soft budgets.

Compliance can also receive alerts on anomalies through an exception-based notification system.

Peter Head, chief compliance officer at Cheyne Capital Management, said: “Red Deer demonstrated a fully flexible solution for MiFID II research unbundling that should allow us to manage all our inducement, research consumption and valuation requirements with minimum disruption to the front office. It should also allow us to attribute, forecast and manage budgets in real-time, thus giving us a clearer perspective on both the cost and value of research across all channels.”