IHS Markit Launches MiFID II Solution for Regulatory Outreach and Repapering

LONDON--()--IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced the launch of its Outreach360 platform available on Counterparty Manager. Outreach360 is designed to address specific MiFID II regulatory rules including the need to manage and share documentation as well as address regulatory outreach and repapering between counterparties. The platform also supports outreach for KYC (Know Your Customer), tax and global regulatory data including due diligence questionnaires.

“In collaborating with buyside and sellside working groups to design Outreach360, it became apparent that the successful implementation of MiFID II hinges on the effective exchange of large volumes of data between firms and their customers”

Outreach360 provides a single, standardized way to streamline bilateral communications and efficiently manage counterparty outreach campaigns. It enables firms to centralize information by creating, sending and receiving notifications in one place. Users can also track the progress of their outreach efforts with real-time status updates on a customizable dashboard. In addition, a full audit history is available on any information exchanged, including legal contracts, terms of business repapering and due diligence questionnaires.

The IHS Markit Outreach360 platform leverages the existing network of information within Counterparty Manager, which serves over 9,000 corporates and buy-side firms and over 100 banks.

MiFID II presents sweeping changes in European financial regulation and will affect firms broadly over the next year leading up to its January 2018 deadline. According to a recent study conducted by IHS Markit and the Boston Consulting Group, preparations for MiFID II are estimated to cost the financial services industry a total of $2.1 billion in 2017. The revisions of MiFID will drive material changes and modernization of the financial services landscape across market structure, investor protection, transparency reporting and organizational requirements.

“In collaborating with buyside and sellside working groups to design Outreach360, it became apparent that the successful implementation of MiFID II hinges on the effective exchange of large volumes of data between firms and their customers,” said Darren Thomas, managing director and head of Counterparty Manager at IHS Markit. “Up until now, there were no solutions like Outreach360 in the market to support end-to-end outreach that can be fully customizable for each financial counterparty. IHS Markit will be first-to-market to fill that gap with a platform that solves a critical need in the financial services industry.”

The development of Outreach360 by IHS Markit is the culmination of over a decade of experience in providing effective regulatory solutions to the financial service industry. IHS Markit offers a comprehensive set of solutions to address MiFID II requirements, from investor protection to transparency to market structure, including MarkitSERV, Markit EDM, BestEx Reporting, Interactions, Evaluations, Transaction Cost Analysis, Research Payment Account Manager, thinkFolio and more.

For additional information on IHS Markit MiFID II solutions, please visit: https://www.ihs.com/solutions/mifidii.html.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd and/ or its affiliates. All other company and product names may be trademarks of their respective owners © 2017 IHS Markit Ltd. All rights reserved.

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Release Summary

IHS Markit launched its Outreach360 platform to address specific MiFID II regulatory rules for documentation as well as address regulatory outreach and repapering between counterparties.

IHS Markit