IHS Markit has launched its RPA Manager service aimed at helping the buy-side acquire investment research under MiFID II.
The tool provides users with research budget calculation, tracking and allocation, managing funding of the RPA through direct debit or commission sharing agreements, reconciliation, reporting and document management.
It will also soon integrate the SWIFT network and allow firms to manage payments through single interface for sending payment instructions to and receiving activity notices from banks.
RPA Manager is combined with other research management services provided by IHS Markit, including its broker vote and commission manager tools.
Tom Conigliaro, managing director at IHS Markit, explained asset managers are bracing for increased operational intensity following MiFID II implementation.
“We are actively collaborating with customers on the design and implementation of a holistic workflow solution that will bridge our multiple services to help fund managers administer newly regulated activity,” he said.
Michael Aldridge, also managing director at IHS Markit, added unlike other regulations, MiFID II imposes significant burdens on the buy-side.
“With RPA Manager and integrations to our other brokerage and research services tools, we can offer firms an easy to deploy, scalable solution for administering research payments, tracking the quality of research, accounting for commissions and more,” he concluded.