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Client

Global Wealth Manager

Function

Market Structure
Regulation

Asset Class

Equities
Fixed Income
FX

Geography

Europe
Asia

Duration

12 months +

The Ask

The client, a global wealth management firm, requested GreySpark assess, design and implement a program to deliver MiFiD II compliance in time for the January 3rd 2018 deadline. The client wished to leverage GreySpark’s proven ability to take high level regulatory guidance and transform this into functional requirements which ran complimentarily to a plethora of overlapping projects that the client were running simultaneously as part of a larger architectural restructuring.

Methodology

  • GreySpark deployed a Managing Consultant and two Senior Consultants to work with the client. The consultants were selected and deployed for their complimentary technical skill sets which spanned multi-language programming, FIX protocol expertise, architectural experience, regulatory analysis, project management and front office experience.
  • The consultants delivered clear, concise and actionable business requirements from both the regulator’s guidance and the business’ internal requirements.
  • GreySpark’s team continuously managed change presented by the client’s demands, driven by a shifting regulatory scope. The team quickly understood the client’s outlook and were able to plan for multiple potential outcomes rather than a linear expected path giving the project the ability to change direction without large time lags.
  • The client’s primary internal challenge was the simultaneous design and implementation of a global OMS and EMS platform which were being developed in-house. GreySpark’s team engaged directly with this project understanding that the regulatory solutions should not be add-ons, adding to the firm’s architectural complexity, but core to this development.

Outcome

GreySpark, in short, was key to delivering the client with MiFiD II compliance which was well-integrated into the client’s architecture and complimentary to it’s current and future projects.

Deliverables:

  • Technical assessment;
  • Solution framework;
  • Program design; and
  • High-level delivery schedule and support.

GreySpark Delivered Benefits

GreySpark provided the client with a clear and concise understanding of the key aspects of MiFID II. This was presented via publications and other proprietary intellectual property developed by GreySpark in parallel with the deployment of a skilled and motivated core team.

GreySpark provided the client with a unique view on MiFiD II by not only focussing on the regulatory text but additionally providing the client with insight into the intent of the regulation. This approach was key to the development of the requisite solutions and added a fresh approach which allowed the clients the ease of movement to react to changes in the landscape.

GreySpark’s strong team-based ethos and the consultant’s positions as core to their functional areas were leveraged by the client to provide the project with interconnectedness between different project teams which facilitated a well-coordinated, consistent delivery

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