MiFID II: an opportunity to leverage technology

“We believe that MiFID II offers new opportunities for rationalization of operations and potential reductions in operating costs. The reduction in operating costs can come from the digitization of processes and workflows, avoidance of redundancies across the value chain and better use of available human, technological and financial resources.” (Accenture)

“Technology certainly can help, as these will support an organisation to implement processes and workflows that are based on best practice and the joint experience of a large user base – provided, of course, you chose a platform from a credible vendor with an engaged user group.” (Financier Worldwide)

“If companies opt for a fully hosted service offering, they will benefit further from economies of scale and having an expert organisation managing and monitoring the solution, further reducing the cost of ownership and reducing management overhead and management time spent on the solution.” (Financier Worldwide)

“This compliance cost will create a heavier burden on smaller firms and could become a barrier to entering the market, or jeopardize their existing market position.” (Deloitte)

“Given the cost of the investment required to meet regulatory demands, coupled with increased capital and liquidity requirements due to Basel III and CRD IV, some businesses will no longer be profitable. The return on capital employed (ROCE) figures may struggle to reach double digits. This may apply to mid-tier firms that do not have capital available to invest.” (EY)

“MiFID II is not just a compliance exercise. There are major strategic implications that could bring market opportunities and competitive advantage for those who start to plan in advance, or potential revenue loss for those who fail to react.” (EY)

“Firms that manage the regulatory agenda as part of their strategic evolution and maintain flexibility will capture market opportunities in contrast to those that view implementation merely as a compliance task.” (EY)