The consortium of global banks behind Project Sentinel, a new e-trading platform for meeting MiFID II regulations, has announced the e-trading consultancy Adaptive as one key delivery partners.
After adoption by the European Parliament on April 15th of 2014 and two years of vigorous debate, the second wave of the Markets in Financial Instruments Directive (MiFID II) is due to come into force on 3 January 2018, with Sentinel scheduled to go live in September 2017.
Sentinel will address both pre- and post-trade transparency requirements for traditionally voice-traded, over-the-counter (OTC) instruments across multiple asset classes. Its component-based architecture and open APIs enable participating banks to integrate seamlessly with their existing architecture using whichever elements of the platform they require, from a sales-trader workflow, to a rules engine, to reporting, and more.
As Google Cloud Partners, at Adaptive we are pleased to announce that Sentinel will be hosted on Google’s innovative Cloud Platform (GCP). This brings enhanced scalability and resiliency combined with accelerated delivery and iron-clad security.
“The Sentinel project takes a disruptive approach to solving MiFID II. Adaptive’s strong capital markets business and regulatory knowledge, combined with our track-record in delivering real-time workflow systems to the cloud, will result in a best-in-class platform which is open and extensible. This represents a significant step towards the digital transformation of the voice-traded, OTC market; thereby turning a regulatory burden into a competitive advantage.”
Co-founder and Director
Adaptive Financial Consulting
“The financial services industry is constantly facing new regulatory challenges that put pressure on individual organisation’s internal resources and systems. The Sentinel initiative will help these institutions to comply with the latest MiFID regulation by utilizing secure, advanced technologies.”
Official press release
In addition, for the official press release, click here.