Got a regulatory problem that no-one has a solution for? Got cash but nothing to buy? Get in touch!
As directly seen when MiFID II went live in 2018, even with a significant heads up period and resource investment sufficient to purchase several football teams, there is an over promise of delivery followed by a rapidly diminishing scope of actual deliverables until on launch day, a customer might be fortunate to receive a third of what they had originally been promised.
Large providers cannot move quickly. Oktris can.
How fast? Well, when ESMAs Financial Instrument Reference Data System came online, we had a solution deployed on a client site 4 days after originally proposing it. Our customer was able to use it to look up instruments and ISINs of Instruments where more than two years later, an ARM capitalised to the tune of 2 billion GBP was unable to do so - our client could provide the ARM with the ISIN of an exchange traded instrument the ARM needed to transaction report but which both the ARM AND the exchange concerned lacked the ability to find. We think we can claim to be able to do things which much better funded companies cannot in timeframes unheard of in this industry.
What we don't have is capital to fund a large team. This means we have limited resources to divert to new solutions.
What we ultimately want to offer is a solution for every significant regulatory framework to the financial sector on the planet. But that's some way off and we need to start somewhere - so we've started with our MiFID data and reporting solutions.
As we look ahead and consider what to do next, we're happy to hear from potential customers - what do you like about our existing products? What would you like us to do to improve them? What new regulations are keeping you awake at night that we could help with? Let's have a chat - if we know there's a need for something, particularly if we know that if we build something we'll get that investment of our effort back, we can look at building and maintaining a new solution. Not in two years or three years - but often in days or weeks. And not the solution which works as some technical guy and a lawyer think is needed - but one which is built to work for the people who need to use it every day.
The capability to send reference data to the regulators is a requirement under MiFID II. Two of the six firms in the reporting space offer a partial solution requiring significant provision of data by financial firms.DARRENCEO, Oktris Limited.
The Oktris solution requires the provision of one single data field in the case of an existing instrument, and no on-boarding for other products is required!DARRENCEO, Oktris Limited.