As predicted, the run-up to the November deadline and the dreaded summer budget and planning cycles are raising the heat on MiFID conversations. Gone are the days when uncertainty was acceptable. Technology leaders are now placing bets on how to be tested and ready for their employers, their customers, and the regulators in less than 80 business days.

PJ Di Giammarino CEO JWT-IT Group Ltd.

Our analysis shows that only a minority of financial institutions has identified the potential competitive benefits of early adoption and is looking to shift models over the next two to three years in line with the market. This will keep cost/income ratios under pressure as firms struggle to digest the up-tick of compliance-driven changes and rapid data-volume increases.

CTOs, CIOs, and CSOs are also responding to the new principles-based regulatory requirements by engaging in discussions about technology trade-offs: power and low-latency hungry boxes versus expensive traders; security of “in-house” versus new utility solutions; and new common data solutions versus making do with the current infrastructure.

Together with more than 20 Testing and Technical Special Interest Group (SIG) members, JWG-IT continues to analyze the 1,000 MiFID requirements with a specific focus on producing a common set of reference architectures and solution approaches. Initial attention has been directed at the trade lifecycle, reporting, and record keeping. Visit www.jwg-it.eu to sign up and keep abreast of the latest momentum.

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Filed under: Issue 2 - Summer 07