Fit for MiFID II with munio 7.0 – you’re in safe hands with the intelligent portfolio management solution

Friday April 7th, 2017
DSER
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Görlitz, 7 April 2017 – With the revised Directive on Markets for Financial Instruments (MiFID II), the European finance industry is faced with the most comprehensive structural adjustment in its IT history. MiFID II comes into force in January 2018, and brings more stringent transparency requirements, documentation requirements and new fee models for banks and portfolio managers. The munio 7.0 portfolio management solution provides a wide-ranging solution.

Financial markets have changed significantly in recent years. The emergence of new markets and products, as well as technological advances have significantly influenced the functioning of securities markets. MiFID II strengthens the transparency rules for shares and also includes significantly more financial instruments than ever before – all as of January 2018.

The changes include target market testing. In future, this is to be performed for securities to be purchased with a view to the individual customer. While the scope and level of detail are still not fully defined, it is known that this will involve an additional documentation workload for asset managers and consultants alike. For example, a loss threshold of 10% must always be reported to the customer automatically. The customer must also always receive a regular performance report. In future, upon every regrouping of investments, a rationale must also be provided explaining the added value of the regrouping. And last but not least, the suitability sheet will replace the investment consultation record.

According to Johann Horch, CEO of DSER GmbH and Chairman of the Board of niiio finance group AG: “munio 7.0 undertakes to cover all MiFID II-related processes using the implemented legal card. In this way, DSER is positioning itself as a true outsourcing partner for its customers rather than just as an IT partner. MiFID II will inevitably lead to a reorientation of many banks, asset managers and consultants, and we are already able to support them.”

Another component is greater transparency in trading via the consolidated data tape that aims to combine and publish post-trade transparency data throughout the EU. This will provide a comprehensive overview of current prices for financial instruments, making it clearer whether orders were executed in a price-conscious manner. munio 7.0 is already connected to 81 banks and can meet the requirements of the incoming PSD2 directive for account management as well as completely covering the requirements of portfolio management. Also, munio 7.0 is currently already PSD2-ready-to-go and provides its customers with interfaces to 3,800 banks.

Commissions from product providers are also affected by the changes. This applies in particular to traditional sales follow-up commissions regularly incurred for mutual funds in customer securities accounts. Certificates and other securities designed to contain commissions also fall under this category. All the processes necessary for these are implemented and reflected in munio 7.0.

“Through our position as a leading software manufacturer of portfolio management software in Germany, we see it as our duty to actively provide solutions for our customers. For this reason, we recently conducted a workshop on requirements comparison with a selected group of customers, in order to ensure compliance with the MiFID II Directive”, says Horch.

About DSER

Digital services for the future of banking – that is the speciality of DSER and the companies of niiio finance group AG. In addition to munio and robo-advisor, these services include a community platform and API banking tools, as well as tailored consulting and development services and operating models. The Görlitz-based software publisher sees itself as a solution partner for banks and financial service providers. Its high-quality, plug-and-play solutions are user-friendly and customisable; they help to sink costs dramatically and to realise the benefits arising from competition.

Since 2016, DSER has been working together with niiio finance group, making a powerful team. Its goal is to provide a comprehensive fintech ecosystem that leads banks, consultants and private investors together into a digital future. DSER has been successfully providing solutions for the portfolio management market for over ten years. With its sophisticated core product (munio), over 70 active customers currently move 40 billion euros and manage a portfolio volume of around two million accounts.

More information

• DSER corporate website: www.dser.de
• munio product portal: www.munio.de
• Website of niiio finance group: www.niiio.finance
• Website of niiio it-services: www.niiio.de

Kontakt

Deutsche Software Engineering & Research GmbH
Johann Horch, Chairman of the Management Board
Elisabethstr. 42/43, 02826 Görlitz
Phone: +49 35 81 – 374 99 – 0
E-Mail: johann.horch@dser.de

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