MiFid II Costs & Charges

MiFID II
costs & charges analytics

An independent solution to comply with MiFID IIs costs & charges requirements.

Calculate Implicit & Explicit Costs for Derivatives & Cash Products

Generating the specific data required for immediate regulatory compliance

Requirements

The 3 key transaction cost reporting obligations

01.
Immediate Response to Investor Cost Requests

Expected (ex-ante) transaction costs must be given to all prospective investors before they make an investment decision.

02.
Reporting Costs for the Last Three Years

The last three years worth of (ex-post) costs must be provided to each investor on an annual basis.

03.
Cumulative Impact of Costs on Investment Returns

Illustrations showing the cumulative impact of costs on returns must be provided.

Mifid Ii Costs & Charges Product Tour

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Costs & Charges

01
Annualised 3 year average

Receive a summary of 3 years worth of transaction cost data for ex-post reporting

02
Daily cumulative costs

Download cumulative transaction cost data to identify the impact of costs on return

03
Full product breakdown

View a full product breakdown of explicit and implicit costs for ex-ante reporting

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Challenges

To estimate implicit costs a set of detailed rules must be followed

PRIIPs
COMPLIANCE

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If you’re subject to MIFID II, you automatically have to comply with the much tougher PRIIPs standards to estimate implicit (bid offer spread) costs.

IMPLICIT
COSTS
ESTIMATION

MiFidII-ORGSquare

A set of detailed rules must be followed to estimate implicit costs when arrival prices are not available, which requires sophisticated modelling for OTC, ETD and FX products.

LACK OF
DATA

MiFidII-ORGSquare

The ‘slippage cost approach’ defined in PRIIPs to estimate implicit costs requires the execution price as well as the order-transmitted price (or ‘arrival’ price) for each trade for the last 3 years.

INVESTOR
EXPECTATIONS

MiFidII-ORGSquare

Even if you have no MiFID or PRIIPs obligation, investors will increasingly expect transaction cost reporting as standard.

Opengamma Solution

IMPLICIT
COSTS
ESTIMATION

MiFidII-PNKSquare

The OpenGamma model estimates implicit costs for OTC, ETD and FX products by using machine-learning & statistical techniques on historical transaction data.

FULL
PRODUCT
COVERAGE

MiFidII-PNKSquare

For all other products e.g. equity, bonds and money markets, transaction data is consolidated, ensuring full product coverage for regulatory reporting.

REGULATORY
SPECIFIC
OUTPUT

MiFidII-PNKSquare

The simple-to-use interface allows you to download transaction cost output on-demand, with reports and analytics built to the specifications of the Costs & Charges Disclosure.

Simple Set-Up

Get Going.
Fast.

Set up in hours. At no cost.
Removing all risk.

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Data Input

Integrating your data is our problem, not yours

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Simulations

We run millions of calculations using our proprietary analytics

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Results

Receive the specific output required  for immediate regulatory compliance

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