Banks Build MiFID II Specs, Start Search for Vendors

Collaboration for front-office compliance completes identification of types of interactions

Sassan Danesh, managing partner, Etrading Software

An effort by regional European banks to mutualize the cost of compliance with the Markets in Financial Instruments Directive (MiFID II) has completed its latest phase and is about to go into the vendor market looking for a solution to satisfy the resultant specifications.

Project Sentinel's first phase, to release a flexible, normalized regulatory data model including all the MiFID II attributes, was completed in June.

The second phase, which has just been completed, has created workflows for

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