Financial Services Industry
Industry: Email Alert RSS FeedOmgeo update for MiFID conditions.
Financial Adviser, October, 2007
New transaction software has been launched by Omgeo to help financial advisers affected by the MiFID requirements.
Omgeo, a provider of post-execution trade management services, has updated its transaction report to meet MiFID obligations, enabling buy-side and sell-side clients to comply with the new transaction reporting regulations.
This means that Omgeo will report all transactions to the FSA no later than close of business the following day, as outlined by the requirements.
Once validated, the client receives an acknowledgement confirming that the transaction details have been accepted by the Omgeo host. A batch process is run nightly and the day's transactions are collated and sent to the appointed regulatory body.
Steve...
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