Through joining this group, FRSGlobal will pass on its expertise of regulatory reporting for the Markets in Financial Instruments Directive (MiFID) and other implementations, and join forces with complementary vendors to create ‘ecosystems’ offering complete MiFID solutions that address the regulators requirements.
Virginie Blaise, product management director at FRSGlobal, said: Of all the legislation to come out of the EU’s Financial Services Action Plan (FSAP) over the last five years, it is MiFID that is likely to have the greatest impact on the marketplace as a whole. However, it is still not clear which countries will be ready. Although some countries such as Luxembourg have granted a six-month period of parallel running, investment firms are highly recommended to implement a solution before the November 1, 2007, deadline in order to take a leading position on the European market.
