MIFID regulation

Adapting to the normative, regulatory and supervisory frameworks are a key factor in Financial Institutions to ensure compliance with the different transpositions of regulations and directives at the European and national level (Spain). Bluetab collaborates with the main Spanish banks to adapt their data platforms and thus comply with the growing requirements and regulatory demands that they have been forced to face in the last five years. In line with these collaborations, Bluetab has generated a balanced scorecard to comply with the reports required by MIFID, the acronym in English of the European Directive on markets in financial instruments. This directive regulates the provision of investment services in terms of the way in which they inform, advise or sell financial products to their current or potential clients, as well as the way in which they offer services for the execution of operations on financial instruments.

The reporting carried out by Bluetab for one of the main Spanish Financial Entities, facilitates a control and monitoring of the application of the regulations in the offices, allowing access at the level of detail by center, client and product axes. The MIFID dashboard allows the entity to measure the degree of compliance with the regulations and to be able to report to the regulator correctly “governed” information in terms of reliability and traceability, complying with the generated reports, the specified requirements such as:

The project consists in the provisioning and generation of the control panel that allows the storage and exploitation of the information related to the consent of the client’s data from the information originating in the Big Data Informational to the SQL Server DB on a daily basis (15 days) and on an aggregate weekly basis (3 weeks). The scope includes the functional and business analysis, with the realization of the logical and physical model, the design of reports and the construction, as well as the information validation.

The main technologies used were Microstrategy for reporting and Datastage and SQL Server for provisioning and storage.

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