Calastone offers look-through for distribution data

Calastone, a provider of financial services related technology, has launched Data Services, a solution it says tackles the demands that will be made of fund providers by Mifid II, particularly in the area of being able to meet transparency requirements on distribution.

Calastone notes that the Directive will require fund providers to “have full transparency into where their products are being sold.”

However, understanding precisely where funds are being held within global distribution channels and markets requires a new type of data processing capability. Providers will need to aggregate information from potentially thousands of sources accessed in different data formats. They will also need to be in a position to analyse the data and generate reports, Calastone said.

Rob Swan, managing director, Calastone Data Services, said: “Many fund management firms are not prepared for the scope and volume of work required to simply achieve look-through of their product distribution, a task that involves the consolidation of data across thousands of administrators, distributors and advisors. We anticipate that aspects of the upcoming Mifid II regulation will require fund managers to add a market overlay to monitor the full distribution chain effectively. The scale of this task should not be underestimated. The recent one-year delay of the regulation must not be seen as an opportunity to defer the project, but rather as time to ensure compliance with their regulatory obligations.”

 

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