Jonas Hansbo, Itiviti
"We are very pleased to introduce Itiviti Analyst MAR, which provides a comprehensive regulatory tool for the financial industry to help navigate one of the most taxing requirements introduced by MiFID II."
Stockholm, Sweden - Itiviti, the technology provider for the capital markets industry, has announced Itiviti Analyst MAR, a solution designed to help firms ensure compliance with the new European Market Abuse Regulation (MAR) which will become effective on July 3, 2016.
This Regulation establishes a common regulatory framework on insider dealing disclosure of inside information and market manipulation (market abuse) as well as measures to prevent market abuse to ensure the integrity of financial markets in the EU and to enhance investor protection and confidence in those markets.
Based on the established Tbricks by Itiviti platform, Itiviti Analyst MAR covers all mandatory scenarios and asset classes subject to MAR regulation (shares, ETFs, derivatives and bonds). Itiviti Analyst MAR consumes private data (i.e. orders and trades) through an industry standard FIX drop copy, enabling simple integration with virtually any system. Market data, news, and benchmarks are stored tick by tick in the ticker plant (OneTick) provided by Itiviti's partner.
"We are very pleased to introduce Itiviti Analyst MAR, which provides a comprehensive regulatory tool for the financial industry to help navigate one of the most taxing requirements introduced by MiFID II," said Jonas Hansbo, Chief Strategy Officer, Itiviti. "Itiviti is committed to deliver the most convenient and flexible MAR compliance solution. This is illustrated by the key characteristics of Itiviti Analyst MAR, which is asset class agnostic and offered as a managed service that is deployed without intrusion to existing trading infrastructure."
Itiviti Analyst MAR performs continuous, automated monitoring and detection of events (e.g. insider dealing and market abuse). Alerts are provided through an intuitive and flexible user interface, where further analysis and investigations such as order book replay can be performed. Detected breaches and any event that calls for action are fed into a case management system with customizable workflows for further investigation by clients' compliance officers.
All data is securely stored using a premier enterprise-wide solution for tick data collection and management. This enables detailed analytics while meeting the new demands for record keeping. MAR specifies that all market data, orders and transactions must be stored for five years. The compliance officer can create a STOR (Suspicious Transactions and Orders Report) automatically, incorporating all information encapsulated and stored in the system.
Itiviti Analyst MAR is the first product launched in Itiviti's new regulatory offering. Going forward, Itiviti Analyst will be able to add further MiFID II compliance modules such as Best Execution analysis, algorithmic trading monitoring, market maker compliance as well as modules for Transaction Cost Analysis (TCA) and management of MiFID II parameters.