MiFID is scheduled to take effect from November 2007, and will have an enormous impact on all participants in the European financial services industry, significantly affecting a wide range of business and functional activities. The website is designed to become an invaluable central reference source for market participants.
Commenting on the launch of the website, Simon Tizard, Investmaster's Sales and Marketing Director said: "We have been monitoring developments with regard to MiFID for some time. Clearly it will have an enormous impact on the market as a whole, but as a supplier we wanted to specifically assess the implications for our customers and their use of our products. As a result of this assessment we decided that it would be useful for them and the market as a whole to have access to news about MiFID, thought pieces on its impact and links to other useful web-sites."
Whilst the detailed Level 2 information regarding MiFID will not be released by the EU until March 2006 Investmaster's analysis to date indicates that there will be three major aspects of the way investment managers operate which will be seriously impacted. Investmaster is shaping its own product plans to ensure that its systems will be more than capable of meeting the changing requirements. The functional areas that Investmaster anticipates being most affected are:
Trade Management: Trade execution, reporting and audit.
Portfolio Management: Client risk profiling, "suitability" and performance measurement.
Client Relationship Management: Client Agreement Letters, "Know Your Client" and client reporting.
Tizard adds: "We see the three areas of Portfolio Management, Client Relationship Management and Trade Management as being of key importance to investment managers and Investmaster will ensure that its products will be ready to meet their needs. Although November 2007 sounds a long way off it is actually only a short time away to prepare for what is likely to be the biggest set of regulatory change the market has ever seen. I believe that the web site will provide participants with a highly focused and relevant resource to get the information they need to meet the challenging timescales."