The comprehensive revision of MiFID through MiFID II and MiFIR is the regulatory framework for investment services in Europe. It regulates and harmonises securities trading throughout Europe. The MiFID II directive and MiFIR regulation have been in force since January 2018 and require the disclosure of fund-specific product information from insurance companies and distributors. The data should be provided by asset managers and their service providers and need to be combined with the product and distribution costs. As the second component of PRIIPs and MiFID II reporting, the arep solution provides all values based on raw data, such as risk and performance, ex-ante and ex-post costs, different types of transaction costs and correct target-market descriptions, in different formats.
AREP SUPPORTS THE MIFID II DATA FLOW
Cost disclosure in accordance with MiFID II, article 24
AREP SOFTWARE AS A SERVICE FOR MIFID II
Use our software as a service solution combined with our managed service for the verified provision of all necessary reports, templates and platform interfaces, such as EMT, WM data, OpenFunds, Morningstar, etc.
arep MiFID II includes the following components:
- Flexible collection of raw data from administrators, own systems and EMT look through platforms
- Collection of market data (arrival prices) in the “Waterfall concept” of up to six data providers
- Calculation of the historical and current implicit transaction costs according to various New PRIIPs, Full PRIIPs, look through, fund of funds and pool structures
- Monthly EMT generation
- Data transformation to other formats: OpenFunds, FundsXML and WM
- EMT distribution via email or SFTP as well as via a flexible web service
- Provision via a “white-label” portal
- Archiving of all data and documents