MiFID II Compliance
AlphaDesk has several features specifically designed to help asset managers comply with the requirements of MiFID II regulations.
- MiFIR Transaction Reporting. AlphaDesk has a powerful, user configurable rules engine to populate and validate the 65 fields required, so that manual processes can be minimized, and maximum accuracy achieved. MiFIR reporting is fully integrated with the rest of the AlphaDesk workflow, avoiding duplication and errors.
- UnaVista Partnership. AlphaDesk has partnered with UnaVista to provide MiFIR compliant T+1 transaction reporting. UnaVista, part of the London Stock Exchange group, is a MiFID Approved Reporting Mechanism (ARM). It is connected to the European NCAs so reporting firms don’t need to manage connections to each of the NCAs.
- Unbundled Commission Management. AlphaDesk has comprehensive tools for tracking and reporting unbundled commission payments into Research Payment Accounts (RPAs). This allows users to split commissions into execution and RPA amounts according to flexible rules, and track the payments into the RPAs.
- Best Execution and Trade Cost Analysis. AlphaDesk works with several trade cost analysis providers to make their analysis available to AlphaDesk users. This includes both pre-trade and post trade in various configurations to suit individual firm’s needs. TCA can be an important component in verifying best execution as required by MiFID II.
- Record-keeping. The AlphaDesk system tracks all trade lifecycle events with timestamps and the other details relevant for each event. This is stored historically and available in the system for transparency, trade reconstruction and surveillance purposes.