Welcome to the MiFiD Group Conversations website, brought to you by Voices in Business and JWG-IT.
Over the coming months we will publish, in MP3 audio format, a series of conversations with members of the JWG-IT Technology Special Interest Group (TechSIG) along with other MiFID experts.
To stay informed as new conversations are released, please send an e-mail to updateme@voicesinbusiness.com with the words “Subscribe MiFID Group” in the heading or body of the message.
In this introductory episode to The MiFID Group podcast series, PJ Di Giammarino, Head of the JWG-IT think tank, talks to Mike O’Hara of Voices in Business about where the market is now with just a few weeks to go until MiFID (The Markets in Financial Instruments Directive) goes live.
00:10 - Mike O’Hara introduces the series
00:55 - Where is the market right now? What’s the “word on the street”?
01:30 - The regulatory environment
03:04 - The state of readiness across Europe
04:00 - Who are the stragglers?
04:25 - Market infrastructure and the state of the incumbent suppliers
05:10 - What the LSE is doing
05:45 - What about the investment firms?
06:22 - Issues that the firms are worried about
07:00 - Record keeping
07:46 - What to do if a customer comes knocking?
08:50 - The vendor marketplace
09:25 - Vendors fall into two camps
10:19 - The formation of TechSIG
10:50 - Benchmarks and common reference frameworks
12:20 - Results from TechSIG to date
13:20 - Implications for vendors & suppliers
14:50 - Implications for investment firms & market participants
16:50 - About The MiFID Group Podcast
17:22 - Comments & feedback welcome
Please leave comments here on the website, or send them to mike@mifidgroup.com
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MG01 - Introduction and Background, featuring PJ Di Giammarino [17:42m]: Play Now | Play in Popup | DownloadIn this episode of The MiFID Group podcast series, Mike O’Hara of Voices in Business talks to Nigel Woodward of Intel and Parm Sangha of Cisco, who are respectively the first chair and co-chair of TechSIG (Technology Special Interest Group). Nigel and Parm explain the aims and objectives of the Group, and how it can benefit both vendor firms and market participants.
00:10 - Mike O’Hara introduction
00:54 - Nigel Woodward explains the background of TechSIG
01:35 - What are TechSIG’s objectives and how will it operate?
02:22 - Creation of the Capital Markets Reference Framework (CMRF)
02:55 - Interest from vendors so far
03:19 - Why so much interest from vendor community?
04:25 - Tasks facing the buyer community
05:16 - “Ecosystems” of solutions/architectures
05:54 - Parm Sangha explains the TechSIG structure
06:12 - The three Workstreams
08:00 - Publication of component parts within CMRF
09:35 - What’s in it for ABC Bank or XYZ Exchange?
10:26 - Standardized RFI & helping firms ask vendors the right questions
11:16 - Architectural approach rather than packaged solutions
11:30 - How do vendors join TechSIG & how do firms access the output?
12:26 - About The MiFID Group Podcast
12:56 - Comments and feedback welcome
Please leave comments here on the website, or send them to mike@mifidgroup.com
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In this episode of The MiFID Group podcast series, Mike O’Hara of Voices in Business speaks with Jitz Desai of JWG-IT about RTC (Reporting the Trade Correctly), one of the three TechSIG workstreams of the Capital Markets Reference Framework. Jitz discusses some of the issues and challenges around RTC, and where TechSIG fits into the equation.
00:10 - Mike O’Hara introduction
00:45 - What is RTC all about?
01:12 - Pre-trade and post-trade aspects
01:31 - What’s so difficult about transaction reporting?
01:42 - Internal reporting and external reporting
02:31 - Reporting to regulators
03:55 - Issues around trade reporting
04:44 - Trade data and pricing models
05:12 - Why is there less focus on client reporting?
05:26 - Pre-trade quotes
05:47 - The main focus areas
06:44 - About The MiFID Group
07:17 - Comments & feedback welcome
Please leave comments here on the website, or send them to mike@mifidgroup.com
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In this episode of The MiFID Group podcast series, Mike O’Hara of Voices in Business chairs a discussion with Jitz Desai of JWG-IT, Steve French of ASPOne, Andy Woollard of BEA and Gavin Quinn of Sybase, on the technology ecosystem surrounding the TechSIG RTC (Reporting the Trade Correctly) workstream of the Capital Markets Reference Framework.
00:10 - Mike O’Hara introduction
00:48 - Jitz Desai explains the criteria for the RTC Workstream leaders
01:39 - Steve French looks at the key issues within this workstream
02:12 - Andy Woollard on why Transaction Reporting is such a challenge
04:09 - Problems with MiFID specifications
04:30 - Some of the key technology requirements
06:14 - Gavin Quinn looks at infrastructure issues
07:56 - How are firms making decisions regarding infrastructure?
08:59 - Where TechSIG fits in
09:50 - Benefits of vendors working collaboratively
11:27 - The RFI template
11:45 - Questions that firms should be asking
12:33 - What happens now?
12:55 - About The MiFID Group
13:26 - Comments & feedback welcome
Please leave comments here on the website, or send them to mike@mifidgroup.com
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In this episode of The MiFID Group podcast series, Andy Woollard of BEA explains his firm’s contribution to the Tech-SIG and discusses some of the work that BEA has done with investment firms in the run-up to MiFID.
Please leave comments here on the website, or send them to mike@mifidgroup.com
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In this episode of The MiFID Group podcast series, Steve French of ASPOne explains his firm’s contribution to the Tech-SIG and discusses the demonstrable solution ASPOne has put together in collaboration with other firms.
Please leave comments here on the website, or send them to mike@mifidgroup.com
In this episode of The MiFID Group podcast series, Gavin Quinn of Sybase explains his firm’s contribution to the Tech-SIG and discusses some of the complex data and analytics issues raised by MiFID.
Please leave comments here on the website, or send them to mike@mifidgroup.com
In this episode of The MiFID Group podcast series, Phil Higgins of Brookcourt Collaborative Solutions talks to Mike O’Hara of Voices in Business about some of the work his firm has been doing with Tier 1 & 2 investment firms in preparation for MiFID, particularly around how to justify the MiFID technology costs through increasing value by cutting latency and reducing security and record keeping risks.
00:10 - Mike O’Hara introduction
00:30 - What are the main challenges for Tier 1 & Tier 2 banks?
00:48 - Communication between technology & business
02:08 - Point-based solutions
02:34 - Latency
03:40 - Competitive advantages from technology
05:20 - Do firms already have the technology they need?
06:02 - Using functionality of existing technology
07:01 - Reorganizing resources
07:22 - Why use an integrator?
09:15 - Relationships vs business understanding
09:42 - The need for collaboration
10:50 - Standards
12:00 - Breaking down the silos
12:50 - About The MiFID Group podcast
13:13 - Comments & feedback welcome
Please leave comments here on the website, or send them to mike@mifidgroup.com.
Listen Now:
