IHS Markit Launches MiFID II Solution for Regulatory Outreach and Repapering
May 24 2017 - 8:00AM
Business Wire
IHS Markit (Nasdaq: INFO), a world leader in critical
information, analytics and solutions, today announced the launch of
its Outreach360 platform available on Counterparty Manager.
Outreach360 is designed to address specific MiFID II regulatory
rules including the need to manage and share documentation as well
as address regulatory outreach and repapering between
counterparties. The platform also supports outreach for KYC (Know
Your Customer), tax and global regulatory data including due
diligence questionnaires.
Outreach360 provides a single, standardized way to streamline
bilateral communications and efficiently manage counterparty
outreach campaigns. It enables firms to centralize information by
creating, sending and receiving notifications in one place. Users
can also track the progress of their outreach efforts with
real-time status updates on a customizable dashboard. In addition,
a full audit history is available on any information exchanged,
including legal contracts, terms of business repapering and due
diligence questionnaires.
The IHS Markit Outreach360 platform leverages the existing
network of information within Counterparty Manager, which serves
over 9,000 corporates and buy-side firms and over 100 banks.
MiFID II presents sweeping changes in European financial
regulation and will affect firms broadly over the next year leading
up to its January 2018 deadline. According to a recent study
conducted by IHS Markit and the Boston Consulting Group,
preparations for MiFID II are estimated to cost the financial
services industry a total of $2.1 billion in 2017. The revisions of
MiFID will drive material changes and modernization of the
financial services landscape across market structure, investor
protection, transparency reporting and organizational
requirements.
“In collaborating with buyside and sellside working groups to
design Outreach360, it became apparent that the successful
implementation of MiFID II hinges on the effective exchange of
large volumes of data between firms and their customers,” said
Darren Thomas, managing director and head of Counterparty Manager
at IHS Markit. “Up until now, there were no solutions like
Outreach360 in the market to support end-to-end outreach that can
be fully customizable for each financial counterparty. IHS Markit
will be first-to-market to fill that gap with a platform that
solves a critical need in the financial services industry.”
The development of Outreach360 by IHS Markit is the culmination
of over a decade of experience in providing effective regulatory
solutions to the financial service industry. IHS Markit offers a
comprehensive set of solutions to address MiFID II requirements,
from investor protection to transparency to market structure,
including MarkitSERV, Markit EDM, BestEx Reporting, Interactions,
Evaluations, Transaction Cost Analysis, Research Payment Account
Manager, thinkFolio and more.
For additional information on IHS Markit MiFID II solutions,
please visit: https://www.ihs.com/solutions/mifidii.html.
About IHS Markit
(www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical
information, analytics and solutions for the major industries and
markets that drive economies worldwide. The company delivers
next-generation information, analytics and solutions to customers
in business, finance and government, improving their operational
efficiency and providing deep insights that lead to well-informed,
confident decisions. IHS Markit has more than 50,000 key business
and government customers, including 85 percent of the Fortune
Global 500 and the world’s leading financial institutions.
Headquartered in London, IHS Markit is committed to sustainable,
profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd and/ or
its affiliates. All other company and product names may be
trademarks of their respective owners © 2017 IHS Markit Ltd. All
rights reserved.
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IHS MarkitJoanna Rieke+1
978-809-3812joanna.rieke@ihs.markit.comorPress Team+1
303-305-8021press@ihs.comFollow @IHS_News
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