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Project Sentinel

Etrading Software managing an industry collaboration of mutualized analysis to meet MiFID II regulatory requirements.

Project Sentinel is a multi-phase project currently being run by ETS on behalf of a number of large regional banks.  It is focused on understanding the obligations placed on the banks by MiFID II - by mutualising the analysis the participants not only benefit from a shared workload but also from building a common interpretation with their peers.  Addressing these regulations will require significant technology investment for all banks because they are not optional or commercial in nature.  Whilst the initial focus is MiFID II, the flexibility being embedded in the proposals and analysis leaves room for further regulations in the future.

To date the project has delivered the following:

  • Regulatory analysis from the level 1 text to the level 3 delegated acts for MiFID II.  This is a living document that is maintained by the Consortium on an ongoing basis
  • Reference Data model to support the regulatory obligations for MiFID II, EMIR and Dodd Frank Public Price Dissemination
  • Logical architecture of necessary components to be integrated into a participant's current trading platform
  • Specification documentation for each of the identified components

The next steps will include a Request For Information exercise with vendors pitching to the group on what they're able to supply and high-level costs.

16 May 2017
Grant Wilson announces full coverage of the top FI dealers: BAML joins Neptune
6 April 2017
Grant Wilson announces the connection of FlexTrade to Neptune.
3 April 2017
Sassan Danesh discusses the launch of the Derivatives Service Bureau UAT platform.
29 March 2017
Sentinel Consortium on track to meet MiFID II deadlines.