London, UK June 2006 – CityCompass Research, the leading independent Research Company in the financial services sector, today announced that the first vendor has signed a contract to be benchmarked under B.I.S.S. MiFID 2006.
Gary Wright, Managing Director, CityCompass Research and creator of the unique business benchmarking concept said “MiFID is looming large for the European markets with implementation drawing ever closer and systems functionality to meet business requirements under MiFID need to be implemented as soon as possible. Buyers of systems need to know that their vendors have real functionality to ensure MiFID compliance and the B.I.S.S. benchmarking will test vigorously that the systems capability is real.
We are delighted to have secured the first vendor in the “Back Office Systems” category who will be put through the B.I.S.S. benchmarking assessments to prove their systems capability to support MiFID’s requirements. As per our contract all participating vendors will remain anonymous until the announcement of B.I.S.S. accreditations during SIBOS week.
We are already in discussions with other vendors in the Compliance/Risk management, Front Office and Integration and Web services sectors concerning MiFID benchmarking and hope to have further announcements shortly”