MIFID Compatibility

The transaction report is completed

Dorsum Zrt. started preparations to put in place the technical solutions required by the new regulations a few months ago. 
The version that contains the officially accepted report by PSZÁF has been completed.
After successfully passing the first automatic test, our clients that are subject to MIFID regulations, started local testing this week.
Parallel to this, the development of base data modification in Clavis is currently underway, in accordance with PSZÁF guidelines.

The new European Union directive regulating capital markets called MIFID (Markets in Financial Instruments Directive) comes into effect on 1 November 2007 in European Union countries.
One of the most important elements of the new regulation is that the monopoly of stock exchanges will cease to exist and the creation of new market platforms will be allowed (MTFs).
The other priority of the regulation is the protection of customers. The aim is for retail customer to receive better service in a more transparent manner and at competitive prices. The implementation of the new directive could require investment service providers to alter their institutional structure and their business procedures as well as to carry out IT developments.