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What information should be present and monitored in a MiFID II compliant interaction?

What information should be present and monitored in a MiFID II compliant interactionOnce in force, what behavior should MiFID II encourage?

To comply with MiFID II, financial institutions should record and monitor all order-related communications across all channels. To ensure compliance an institution should understand which information must be present and monitored together with the scope relevant for each channel. The minimum of information required in a transaction related communication is:

  • Date and time of the interaction;
  • Channel e.g. electronic or by phone or in person;
  • Identity of the parties involved in a transaction with the ability to separate them during the analysis;
  • Information regarding the client order e.g. price, volume, type of order, transmission and execution data and other data depending on the transaction type.

The objective is clear. Facilitate a transparent communication, reducing any misconduct, abuse or fraud and thus indirectly increasing the number of trades or transactions made.

It is not just policy enforcement but also a shift in business conduct.

Join us and industry peers including Compliance Officers, CIOs and Financial Service Professionals in the upcoming Webinar on December 5th, 2017. You will learn how a time and cost consuming manual analysis of all transactions can be fully automated by adopting speech tech solutions that ensure MiFID II compliance and an optimization of processes and a better use of data collected.

Register here