IHS Markit (Nasdaq: INFO) announced a strategic alliance with Deloitte to address MiFID II regulatory challenges. This combined offering leverages IHS Markits Outreach360 solution and Deloittes regulatory business advisory expertise via a managed service.
IHS Markit and Deloitte will offer customers a total solution for navigating MiFID II data standardization, client outreach and counterparty terms of business repapering. Outreach360 provides a centralized tool to create, send and track status of regulatory client outreach communications while leveraging the existing network available on Counterparty Manager by IHS Markit. Deloitte brings a wealth of advisory consulting expertise including MiFID II knowledge along with a managed service capability to address large-scale remediation.
Financial institutions view MiFID II as a top priority and are investing in large, multi-stream programs to get ahead of changes, said Hugo Morris, Partner for the Deloitte Managed Risk Services practice. By working together, Deloitte and IHS Markit can immediately help firms prepare for the pending January 2018 deadline, establishing proven outreach strategies developed by industry participants.
As a technology provider, we understand the right mix of dedicated resources, quality data and advanced systems are essential for client outreach and repapering, said Darren Thomas, managing director and head of Counterparty Manager at IHS Markit. Through trusted resource planning support from Deloitte and a powerful digital platform like Outreach360, firms will be able to take a holistic approach to successfully meet the challenges associated with MiFID II compliance.
As key players in the regulatory industry, IHS Markit and Deloitte both lead independent working groups with subject matter experts focused on MiFID II best practices. This collaboration is one of many industry partnerships and is not solely exclusive to IHS Markit and Deloitte.
IHS Markit has over a decade of experience in providing regulatory solutions for financial services and currently offers a suite of products to address MiFID II challenges. For additional information on IHS Markit MiFID II solutions, please visit: https://www.ihs.com/solutions/mifidii.html
