Investit Intelligence will host the first forum on MiFID, focused specifically for the buy side â MiFID, Mountain or molehillâ¦? - On 03 November at Foundersâ Hall in London. The interactive forum aims to provide a practical guide to MiFID for COOâs, heads of dealing IT directors and heads of compliance. An experienced panel of experts has been assembled by Investit including representatives from the MiFID joint working group, the Financial Services Authority, the Investment Management Association and Bear Stearns.
Chris Pickles, Chair of the MiFID Joint Working Group and Investit MiFID Forum panel member comments, "Although aware of the directive, most fund management companies do not realise the considerable changes expected implementing MiFID. Investitâs event is a must for the buy-side who require information on the impact, recommendations, likely areas of change and the cost of implementation."
Although MiFID has not yet been finalised and the working group is still assessing the impacts, likely areas of impact (to name a few) are:
. The need for a best execution policy, meaning connection to a greater number of trading venues.
. Additional market data feeds and costs.
. Greater data storage requirements and methods to enquire and report on stored data.
. Improved pre-trade transaction cost analysis tools.
Clare Vincent-Silk, Consultant at Investit said, "With the deadline fast approaching, there is increasing pressure for investment management companies to take responsibility for MiFID compliance. We believe, in this budget planning time, that fund management companies need to know the implications on projects and costs. Our MiFID Forum will help to identify areas of impact and give practical recommendations for investment managers to comply with MiFID by April 2007."