The EMT enables the transmission of MiFID II data throughout the EU. This new version of the template better standardises the information on target market and costs between asset managers and distributors, as required under the MiFID II legislative framework. The update marks a major evolution in the exchange of regulatory data associated with funds.
The update extends EMT scope of application, for example the Financial Instrument Product Type has now more detailed classifications (ETC, Bonds, etc.).
Regarding funds instruments, share class types will be better identified with new flags for performance fee, distribution, or payment of distribution. Moreover, a new modular approach is displayed: there will be a reference date for each part of the EMT so as to reflect the period for which the data is actually applicable (Target Market, Ex-ante data, Ex-post data).
In order to help asset managers and distributors successfully navigate this change, MFEX has updated its service offering while keeping stored EMT V1 data at clients’ disposal. Our Data Solutions services provide fund information according to clients’ requirements, to help them meet their MiFID II obligations. Along with our distributors, we have started the final testing period for EMT V3 files, as the official deadline established by FinDatEx approaches.
MFEX has implemented a set of controls of different nature:
Initial formal requirements
Material completeness
Consistency with the industry reality
Multi-field coherence
Thanks to our proprietary software, a high-quality data delivery is guaranteed. Delta reports and new detailed alerts will allow our clients to monitor the evolution of their data.
MFEX has taken this opportunity to enhance the service: our new offer is a highly customizable delivery solution.
For more information please contact us: info@mfex.com
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