At the beginning of 2019, the first MiFID II Ex-Post Costs & Charges report is expected to be sent to clients.
This report must be provided on a personalized basis, at least once a year, and should consider all costs and charges involved across the supply chain.
Some of the data challenges the industry is facing:
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Data Collection – Retrieval of cost and related market data from a variety of sources
Instrument Coverage – Supporting any asset class, wrapper and instrument (e.g. funds, securities, structured products and derivatives)
Validation – Ensuring data integrity through a vast set of rules and analytics
Harmonization – Unifying different data interpretations and formats into a coherent and usable data representation
Full Control – Visibility of your progress to becoming compliant, gap analysis and recommendations on required action items that will bring the highest effect