Investment software provider Advent Software and investment management consultancy Investit have teamed up to produce MiFID: A Practical Guide to MiFID Compliance: How Advent can help investment management firms. The guide outlines the buy-side impacts of MiFID, and explains how software vendors can help implement MiFID requirements.
“In working with over 20 fund management firms on MiFID projects, we discovered that MiFID project managers were unclear on how software vendors could help them achieve MiFID compliance,” says Clare Vincent-Silk, MiFID consultant at Investit. “While many vendors brand their systems as ‘MiFID compliant’, they do not clarify how their systems can help with the different areas of MiFID regulations, causing confusion among MiFID project managers at fund management firms.”
She adds, “Software is a great enabler and it was very productive to work with Advent to identify those system functions that can assist investment management firms in achieving MiFID compliance.”
The guide highlights four main areas where Advent can help fund managers, including compliance, client management, dealing and safeguarding of client assets. The two Advent products which the firm believes can be used to help these firms meet MiFID requirements are Advent Portfolio Exchange (APX), its portfolio and client relationship management system, and Moxy, its trade order management system.