Investment Bank

MiFid2 Compliance – RTS 27 best execution reporting

The Brief

Our tier one client, a Global Investment Bank acting as a multi-channel, multi-asset class execution venue was required to generate MiFID II RTS 27 best execution reports for each in scope asset class.

The Solution

• Identified and investigated outliers based on the regulatory text (RTS 27)
• Automated exception identification (from manual tasks)
• Data analytics to validate & reconcile full data sets
• What-if scenarios – defining and building rules and testing for assurance
• Reviewing competitor RTS 27 reports to both validate the approach taken by the client and provide o benchmark for our client’s reporting submissions

The Outcome

The solution and implementation of the report validation enabled the client to move towards an exception-based report review process. It also allowed for improved data quality and standards and an enhanced traceability matrix from regulatory text through to requirements and test execution