Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news

Breaking-Finance.Com - A new blockchain-based reporting platform set to launch later this year has vowed to cut 80-90% of asset managers' regulatory reporting costs once it goes live later this year.

Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news

Breaking-Finance.Com - A new blockchain-based reporting platform set to launch later this year has vowed to cut 80-90% of asset managers' regulatory reporting costs once it goes live later this year.

Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news
23 September 2020 - 10:45

Breaking-Finance.Com - A new blockchain-based reporting platform set to launch later this year has vowed to cut 80-90% of asset managers' regulatory reporting costs once it goes live later this year. The Tisa Universal Reporting Network (Turn) is powered by Atos and is designed to lessen the reporting burden of European regulations such as MiFID II. Its bold vow comes at a time when investment firms are struggling to meet their compliance requirements amid the disruption of the Covid 19 pandemic and its impact on global markets.

. Once live, the utlility will be accesible to roughly 60% of the European market thanks to the involvement of a number of fund distrubution banks and platforms incouding Allfunds, Calastone, Deutsche Bank, Fidelity International, Link Group, MFex, and Transact.  Gary Bond, chief executive of Turn, said: “This is an industry-led and run, not-for-profit initiative that will ultimately ensure that consumers are offered the best and most suitable products while lowering costs and time spent on admin for asset managers.”

Source = Breaking-Finance.Com

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Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news


Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news


Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news


Finance Breaking news New blockchain utility claims to cut 80-90% of MiFID costs last financial news

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