MFT - MiFID ready

London - 13 August 2007

Mutual Fund Technologies (MFT), the leading transfer agency software, services and consulting company has launched a suite of new client record-keeping and transfer agency functionality in support of the Markets in Financial Instruments Directive (MiFID). The new functionality is now available on its GFAS Transfer Agency platform for MFT customers to roll out, well in advance of the 1 November 2007 regulatory deadline.

MFT’s GFAS platform now provides all the necessary functionality to handle all of the key areas of impact for transfer agency administrators, including the need to support classification, enhanced data stream and reporting functionality, as well as retention of data compliance.

MiFID is a European Union (EU) Directive which aims to create a level playing field in financial services throughout the EU, and facilitate cross-border business by widening the range of investment services and activities that can be pass-ported.

MiFID’s organisational requirements are more stringent than current rules, covering compliance arrangements, internal systems and controls, record-keeping and management of conflict of interest. It introduces a different, three-tier framework for classifying customers as Professional Client, Client or Eligible Counterparty.

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