Saxo Bank Overhauls Data Systems to Comply With MiFID Requirements

COPENHAGEN-Denmark-based Saxo Bank has completed a data management systems update to ensure compliance with the Markets in Financial Instruments Directive (MiFID), which became law in Europe on November 1, officials tell Inside Reference Data.

Saxo's MiFID project, launched in summer 2006, was aimed at preparing the bank for new regulation and has involved around 30 business and IT professionals, according to Søren Valther Stender, manager, business projects at Saxo Bank in Denmark.

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