MiFID II bot
Our MiFID II bot will make compliance with MiFID II, MiFIR and their level 2 regulations easy.
Here are some of the things it does:
Complete, end-to-end solution: the MiFID II bot ensures compliance from A-Z in the journey from client acquisition to deal execution and beyond. It takes care of product manufacturer and distributor obligations, inducements and research unbundling control, client classification, suitability and appropriateness assessments, determining when products may be offered under the “execution only” exemption, and taking care of ongoing obligations such as maintaining clients’ suitability information up to date, generating and sending suitability reports, notifying clients mandatory information in connection with inducement and research unbundling obligations and even ensuring that all information remains up to date at all times.
Customer-centric: we recognise that one of the main issues posed by regulation lies in reliably and consistently ensuring compliance at the Front Office level. So we designed our MiFID II bot with traders and sales personnel in mind. The MiFID II bot actively takes care of the compliance process, eliminating bottlenecks in the decision-making process that delay or even frustrate deals and dramatically broadening the kinds of products and services you can offer to your clients, now that compliance can be reliably ensured.
Client app: as part of our customer-centric approach, the MiFID II bot also includes a client app that works as an interactive one-stop information hub for your clients. Using the client app, your clients may also initiate a number of processes, from changing their classification to completing suitability and appropriateness questionnaires. As an added bonus, an optional “trade” button allows clients to execute transactions previously determined to be compliant with MiFID. This trade execution functionality may be implemented as a standalone interface that interacts with your own trading systems, or embedded in your existing client applications.
The above video is an overview of the key features and core capabilities of our MiFID II bot.
Compliance-first approach: Unlike other products, the MiFID II bot ensures compliance first, and then deals with offering investment services and products to clients (i.e., the pre-trade analysis happens right at the beginning, rather than once you have your trade lined up). This seems to us the most logical approach, as it eliminates situations in which sales personnel work towards a deal, only to discover at the last moment that it cannot be offered to that client due to regulatory constraints.
Typical users: Front Office, Compliance, Operations, Clients.
Secure and confidential: All your information, including that of your clients’ and your products and services, can be hosted on your own servers – in fact, this is our “plan A” offering. Alternatively, we can host the MiFID II bot on the cloud for you if you wish. In either case, the security of your data and that of your clients is paramount, and we make sure it will remain safe at all times.
Always up to date: the MiFID II bot’s engine is always kept up to date to guarantee compliance, even as regulation changes.
Full auditability: the MiFID II bot’s determinations can be audited and validated, and are kept on record for the legally prescribed periods.
X Border Client Protection bot
Our X Border Client Protection bot is designed very much following the same architecture as the MiFID II bot, but its focus is to ensure your compliance with the client-facing business conduct regulation applicable to your firm both under the regulation in its place of domicile, as well as under the jurisdiction of each client.
When both parties are domiciled in the EU, for example, the MiFID II bot (which is embedded in the X Border Client Protection bot) kicks into action. But when each party is domiciled in different jurisdictions, this bot assesses the interplay between your home regulations and those applicable to each client, making sure that the services and products offered, as well as how they are offered, meet all applicable regulatory requirements.
Like the MiFID II bot, the X Border Client Protection bot also includes a Client App that acts as a one-stop information (and, where appropriate, execution) hub.
The X Border Client Protection bot may be further enhanced by incorporating into its algorithms your firm’s internal policies and procedures too.
Covered Funds bot
RegBot®’s Covered Funds bot is the virtual compliance adviser designed to ensure front office compliance with the Volcker Rule’s prohibition for banks to carry on certain activities in respect of covered funds.
Given the extraordinary complexity of the Volcker Rule, this bot is an indispensable tool for all traders, front office personnel and compliance officers to ensure meeting the regulatory standards every time, in real time.
That means that not only will your organisation meet the Volcker Rule’s requirements, but it will do so with an incredibly efficient timing, maximising your competitiveness in the market.
Using the same flexible and modular development platform that we use in-house to develop our off-the-shelf bots, we can build bespoke bots to address any of your specific requirements.
We can also customise any of our off-the-shelf commercial bots to integrate within your own environment and interface with your proprietary applications and databases.
If you wish to discuss your requirements or request a demo then we'd love to hear from you