RegTech company, AQMetrics, has announced the addition of MiFID II compliance features to its cloud-based platform.
The update will include risk monitoring analytics, regulatory reporting under an approved reporting mechanism, a supervisory control portal and risk register for client and product classification.
AQMetrics said the platform will help both the buy- and sell-side to better prepare for MiFID II, a year in advance of the January 2018 deadline.
“Buy-side and sell-side users globally will be able to prove they have made best efforts to ensure their clients are classified correctly, that appropriate products are being sold to those clients, and that best execution is achieved,” the firm said.
Geraldine Gibson, chief executive officer at AQMetrics, explained regulatory technical specifications for MiFID II were analysed holistically before the update.
She added AQMetrics is now able to “deliver economies of scale to our customers while still maintaining information and cyber security, data management, analytics and regulatory reporting.”
AQMetrics noted the increasing focus on finding new ways to leverage modern technology to ensure compliance, as firms prepare for the January 2018 MiFID II deadline.