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2 minute read

The Challenge

Our client sought an assessment of their MiFID II programme and a partner to deliver their technology solution with. The client had previously underestimated the impact of the regulation.

Synechron was engaged to review their requirements documentation for completeness against multiple MiFID II workstreams and to provide a global IT delivery team to design, develop and test a strategic, cross-regulation reporting application and data store. We did this whilst working across multiple business lines and fixed compliance deadlines.

The Solution

We highlighted regulatory and program delivery risks by identifying gaps in requirements and in the technical design.

A team of architects and business analysts helped shape the overall application architecture, both from the perspective of technology used and functionality included. This team was rapidly expanded to provide feature teams for each key component and to start the delivery of the end-to-end reporting and record keeping platform, and control framework.

The Results

RegTech platform processes 10M+ trades and 5M+ quotes daily

95% reporting acceptance achieved (market-leading)

Scalable architecture to ensure compliance now and in future

Our Process

We achieved compliance through end-to-end delivery, fully leveraging Synechron’s regulatory consulting and technology expertise.

Regulatory requirements validation: Using our compliance expertise, we identified gaps in the existing requirements and technical design.

Design: Our team of architects and business analysts helped shape the overall application architecture, both from the perspective of the technology used and the functionality required.

Delivery: An onshore and offshore Synechron team developed the full end-to-end reporting and record-keeping platform within one-year.

Compliance: Our scalable RegTech solution ensured 95% reporting acceptance on day one. We later expanded the platform to include other jurisdictions and regulations.