MIFID II: Communication Solutions And The European MIFID Template

In our last article we talked about possible communication solutions for fund manufacturers and distributors. We boiled it down to three main possibilities: blockchain, data repositories, or an industry reporting. Back then (June), a majority of readers voted for blockchain in an informal poll as the best option—but what's on the move is an industry reporting standard.

Introducing the European MiFID Template

In August 2017, the European Fund and Asset Management Association (EFAMA) made a proposal for an industry reporting standard: the European MiFID Template, or EMT. EFAMA states that the "use of the EMT is not compulsory, but a very large number of both fund managers and fund platforms have committed to using it, so there is likely to be pressure to adopt it to provide fund data to distributors."