MAST: MiFID II Analyser Solution and Tracker

Enabling Firms to Overcome a Complex Challenge

MiFID II, which comes in effect in January 2018, will make significant changes to how EU financial markets operate. As well as updating the previous MiFID, which was predominantly concerned with equities, MiFID II will change how fixed income and derivative instruments are traded, both on regulated trading venues and OTC. MiFID II also brings significant change to areas such as market structure, transparency and regulatory reporting.

The implications of MiFID II on firms are far-reaching and should not be underestimated. Many firms will have to report to regulators or publish their trades to the market for the first time, as well as being affected by a range of other key changes such as how execution commissions are used as payment for investment research, new rules on product governance and enhancement of best execution requirements. Many of the changes MiFID II brings will require firms to undertake system developments, to manage their data in a different way and introduce revised operating and monitoring procedures.

Navigate effectively through MiFID II’s complexity

Duff & Phelps has developed a new application, MAST: MiFID II Analyser Solution and Tracker, to enable firms to navigate the lengthy and highly complex MiFID II legislation. Much more than merely a repository of all the relevant legislation, this web-based application allows firms to:

• Access initial profiles based on firm types (e.g. MiFID firms and AIFMs) and then undertake more detailed profiling based on particular business activities (e.g. algorithmic trading or holding client assets)
• Have a tailored tool specific to your firm by removing any sections of the legislation which are not applicable to the activities undertaken by your firm type through the initial and detailed profiling stages
• Understand the nature and impact of the MiFID II changes on your firm
• Produce prioritized lists of tasks to enable you to achieve full compliance
• Monitor your progress in implementing the necessary changes

An additional advantage of Duff & Phelps’ MAST is that the data and analysis it contains can be seen by both the firm and your designated Duff & Phelps compliance consultants. This means you can undertake all of the analysis and, if you chose, then have it reviewed by us for an additional fee. Alternatively, we can undertake the initial analysis and you will be able to see the results in the system and use the outputs to formulate your action plan.

Options and costings for MAST

MAST has an up-front annual charge and a modest monthly retainer, to reflect the fact that the application will be kept up-to-date as further guidance is provided by ESMA and FCA up to and beyond January 2018. Pricing of the tool varies depending on firm type.

Contact one of our team members to request a demonstration and further information on MAST.