Why choose us?
With many decades of successful financial services consultancy expertise for leading institutions across Europe, most recently MiFID II focused, Oktris is in a position to support firms on a number of topics. Oktris has so far been involved in helping one investment firm along the journey to becoming a Trading Venue (OTF), and also in meeting the MiFID II regulatory requirements for a sizeable inter-dealer brokerage.
CEO insights
We'd like to offer a standard solution based on the regulators own data to the thousands of firms out there with these obligations. If large banks with near infinite resources fall foul of the regulator after 14 years of trying to get it right, we think firms need all the help they can get.
DARRENCEO, Oktris LimitedI’ve seen reporting firms request 20-40 fields of data from their customers in order to be able to report a single instrument. How about one. The ISIN. That’ll do nicely for Oktris in most cases.
DARRENCEO, Oktris Limited.The provision of reference data to the regulators is a requirement under MiFID II. Of the two “big six” firms in the reporting space that offer any solution at all, they both require a customer to provide a large amount of hard to source data to enable them to do so.
DARRENCEO, Oktris Limited.The capability to send both reference and quantitative trade data to the regulators. Not one firm is offering this solution as a standalone. The single firm that actually had the capability when we started, required a customer to take other expensive products first and had serious gaps in product coverage.
DARRENCEO, Oktris Limited.The industry is stuck with the same reporting choices as they have been for the past 5 years. There is no innovation and no customer service. The thinking is very much “Take it or leave it – who else will they turn to?” Well, now those customers have someone else to turn to.
DARRENCEO, Oktris Limited.Firms providing MiFID II regulatory reporting tend to focus on Transaction and post trade reporting. There isn’t much of a focus on solutions for other mandatory reports like instrument reference data and transparency calculation data reporting.
DARRENCEO, Oktris Limited.Two of the six big firms in the reporting space offer a partial solution, requiring significant provision of data by financial firms. The others offer no solution.
DARRENCEO, Oktris Limited.The capability to send reference data to the regulators is a requirement under MiFID II. Two of the six firms in the reporting space offer a partial solution requiring significant provision of data by financial firms.
DARRENCEO, Oktris Limited.The Oktris solution requires the provision of one single data field in the case of an existing instrument, and no on-boarding for other products is required!
DARRENCEO, Oktris Limited.