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THE D IO N D IG E ST
THE SUMMER EDITION
Dion would like to welcome you to the summer edition of The Dion Digest.
If you would like to see the previous winter edition, please find it here.
This edition includes the following contents:
A welcome note from the Head of Wealth Management
MiFID II update
Introducing William Rouse
Client Announcement
Events & Communication
WELCOMEBACK Kean Williams
Global Head of
Wealth management
Welcome to the early Summer edition of the Dion Digest aimed at our Wealth Management clients.
In this edition, we look to review the last 6 months, an update on the MiFID II programme,
introducing Will Rouse, events and dates for your diary and a look ahead to what happens next. At
such a busy time for you all, it is hard to focus on anything other than MiFID II and as a result this
newsletter and our An n u al Clien t Con f er en ce are focussed mainly on this subject. The workshop
based client conference will take place on 21st Ju n e 2017 at the home of Leicest er Tiger s Ru gby
Un ion and will focus on the practical components of the MiFID II programme. If you haven?t
already, please get back to us to confirm that you can attend.
All of our clients are already on the road to MiFID II compliance and a lot of work has been done in
the past 12 months to agree requirements, make the necessary changes and plan each client
project/programme of work. I would like to thank you for your feedback and interaction during this
time and also for your pragmatic approach to planning around the inevitable resource strain as all
client plans overlap. We have made a number of hires in the expanding project team that now
numbers 14 which can be (and is) supplemented by the Business Analyst, Business Support,
Development and Technical Services teams.
The Ash release was made available in Jan u ar y 2017 with the first client Live in M ar ch . Ash was
the base version for MiFID II, the groundwork for further changes. Th r ee clien t s ar e n ow Live on
this version. The second, and largest, MiFID II release is Willow and was made available in the week
of 5t h Ju n e 2017. Many of our clients will go Live on Willow between July and September when the
final release, Sycam or e, becomes available. Originally intended as the catch all for any remaining
new legislative requirements or scenarios that were unavailable as we developed Willow, Sycamore
has evolved into the final piece in your MiFID II compliance as it finalises functionality around
transaction reporting, cost disclosure and best execution. Details of functionality in each version is
included in the MiFID II section of this publication.
I am pleased to confirm that our development team are meeting their schedules in challenging and
complex times.
I remain excited about the development of our new modules and the gradual upgrading of
our offering. The cloud based Client Portal, Corporate Actions and Analytics modules are now
joined by Fees in the latest version as a part of our SaaS options. We are also looking to offer
the entire Invantage suite in a hosted environment on Amazon Web Services by the end of
this year. Thanks again for your continued support and I look forward to seeing many of you
in the near future.
An example dashboard from our Analytics module
MiFIDII update
"The fact that you are unprepared on 3rd January 2018 because you did not know enough detail in time
is unlikely to wash with the regulators." says our senior business consultant Steve Martin, in an article
explaining the current state of affairs around the MiFID II regulatory landscape in the UK. Read the full
article here.
The original MiFID led to a major shift in the cash equity markets, and MiFID II?s impact will be even
more pronounced. MiFID II will affect everyone engaged in the dealing and processing of financial
instruments. MiFID II is one of the key regulatory initiatives that will change the market structure and
business models, firms that manage the regulatory agenda as part of their strategic evolution and
maintain flexibility will capture market opportunities.
M iFID II goals
In cr eased t r an spar en cy of m ar ket s Or der ly t r adin g beh aviou r w it h in m ar ket s
A sh if t in t r adin g t ow ar ds m or e st r u ct u r ed m ar ket places M or e explicit cost s of t r adin g an d in vest in g
Low er cost m ar ket dat a Im pr oved best execu t ion
The impacts of MiFID II are broad, touching connectivity and trading systems in the front, middle and
back offices. The importance of new technologies and rigorous data analysis in this new era of best
execution compliance is emphasised. Data, analytics and technology are the keys to proving best
execution. The challenge is MiFID II extends the requirements of best execution across all asset classes.
Taking advantage of increased transparency, benefitting from available data and using it to understand
the market value of certain instruments will in part determine winners and losers in the post-MiFID II
environment. Whilst the challenges of implementation are numerous, there is also a significant
opportunity to build a more standardised environment globally and provide increased transparency to
clients.
We have built solutions with our knowledge, experience of regulatory change and deep understanding
of wealth management business environments & our MIFID II solution is equipped to support business
growth plans while ensuring compliance.
M iFID II Developm en t u pdat e
Here is an update on the core development team releases for MiFID II this year;
Release ?Ash?M iFID Deliver ables
The following MiFID related features were delivered in the Ash release in January 2017
- Legal entity Identifier & Natural Person Identifiers in Settlement (Transaction reporting standing
data setup)
- Best Execution - ability to report proportions of trades executed (top 5 with the highest
proportion by volume)
- The management of Client Telephone recordings within Portfolio
Release ?Willow ?Dat es Release ?Sycam or e?Dat es
- Code freeze Friday 14th April - Code Start Monday 24th April
- Regression test build Friday 21st April - Code Freeze Friday 4th August
- Regression testing Monday 24th April ? - Regression test build Friday 11th August
Friday 19th May
- UAT Install Friday 2nd June - Regression testing Monday 14th August ?
Friday 25th August
- UAT Period Monday 12th June - UAT Install Monday 4th September
- Pilot client Go live Friday 14th July - Earliest UAT Period Monday 11th September
- Earliest Go Live weekend Friday 6th October
Release ?Willow ?M iFID II Deliver ables The following MiFID related features were delivered in the Willow release in June 2017 - Recording of Decision Maker, Buyer/ Seller and Executor - Trade time to the microsecond under MiFID II - MiFID II Transaction Reporting - Vetting Rules Transaction reporting via Unavista (Transfers and Orders) - Portfolio Percentage Change Since Last Valuation (10% Drop) - MiFID II Reporting Data - Data Quality checking reports - Staff Roles and staff NPI data - Associate costs with stocks (Cost Stock Maintenance) - Addition of CFI Codes for Top 5 Venues - Electable Corporate Actions under Mifid II - Data Capture Release ?Sycam or e?M iFID II deliver ables The following MiFID related features will be delivered in the Sycamore release - Calculate & record costs attributable to stocks for MIFID II (Cost Disclosure) - Transaction report Elective Corporate Action Outturns via Unavista - MiFID II - LiquidMetrix changes required for MIFID II - Market Service changes required for MIFID II - The ICE changes required for MIFID II (Product Governance) - Portfolio Percentage Change Monitoring and Alerting - Client Identifier Management (how to handle multiple KYC records) - Unavista Enrichment and XML production.
Introducing
WilliamRouse William Rouse
Associate Director
Will Rouse joined Dion in January of this year from
Calastone, where he contributed to the significant growth
of the business in the UK and built strong relationships
with market participants, including many of you.
Will previously worked for KAS Bank and Cofunds and
brings a lot of operational, outsourcing and Funds
experience to his new role as an Associate Director here at
Dion. A keen golfer and West Ham United Supporter, Will
lives in London with his girlfriend.
As Dion looks to promote and rollout our cloud based
solutions, Will is leading this campaign both with existing
clients and the wider market alike. Working closely with
Suman Rao, Will has already spoken to a number of our
clients and has seen a lot of traction with other Wealth
Managers for our newer modules Analytics and Fees. Will
is also seeing interest in our Client Portal which, when
demonstrated together with the new browser based
version of Portfolio, has been described as ground
breaking by prospects and consultants.
Will says ?I had a few options in terms of my future career
when I decided to join Dion, but the new modules I saw
when looking to come on board were a step ahead of our
competition and made this an exciting time to join the
ambitious team here?.
CLIENTANNOUNCEMENT Har gr eave Hale w en t Live on ou r f ir st M iFID II r elease We are delighted to share that Har gr eave Hale have gone Live on our first M iFID II r elease. With the deadline for MiFID II compliance rapidly approaching (3rd January 2018), Hargreave Hale has demonstrated its commitment to its customers and the regulatory bodies by being an early adopter of the new rules and guidelines for enhanced transparency and increased customer service. Our MiFID II solution will support Hargreave Hale to meet the demands and challenges of the directive. To read the full press release, click here.
EVENTS&COMMUNICATIONS
Com peer ?s Com plian ce Con f er en ce 2017
Dion participated at the Com peer com plian ce even t in Febr u ar y. There were some very interesting
topics discussed at the event obviously centered around M iFID II but introducing the im pen din g
ch allen ge of GDPR too.
Left: The Event hall at Compeer compliance event.
Right: Kean Williams, our Global Head of Wealth Management, presenting Champagne to the prize
draw winner (Bill Tonks, Director of Audit, from St James Place Plc) from our stand at the Compeer
Compliance Conference on 9th February.
Th e Syst em s in Th e Cit y Con f er en ce
We also attended the Goodacr e Syst em s In Th e Cit y Con f er en ce in M ar ch 2017 held at the London
Stock Exchange. There were many good speakers again with the focus on M iFID II but interesting
thoughts around Cyber secu r it y and the digit al exper ien ce f or you r clien t s. This was thought
provoking and backed up the investment that we had put into our own hosted Client Portal.
Picture here are William Rouse - Associate Director Dion, Clem MacTaggart - COO at Killik & Co;
and Richard Lowrie - Goodacre; at The Systems In The City Conference 2017 in London.
In depen den t Wealt h M an agem en t For u m 2017
Dion participated at the In depen den t Wealt h M an agem en t For u m 2017 held at Fullerton Hotel,
Singapore on 9th March 2017, organised by Hu bbis. The conference was well attended and we were
treated to some great sessions by the industry experts on topics like gr ow in g as in depen den t
w ealt h m an ager s, bu ildin g gr eat er capabilit ies in in depen den t f ir m s and insights into the
evolvin g lan dscape f or in depen den t w ealt h m an agem en t . Sascha Zehnter, Thomas Jost, Olivier
Parriaud, Sylvain Gysler discuss a 2020 vision for the independent wealth management industry in
Asia. Uncertainty and volatility in the markets pose a perfect opportunity for independent wealth
managers to grow.
At las Golf Even t
In May Dion sponsored the At las Fou n dat ion Golf day. Organised by members of the Lon don St ock
Exch an ge the Golf day is one of a number of events on behalf of the Atlas Foundation, a charity set up
by Rugby World Cup Winner Jason Leon ar d and others to relieve human suffering for the poorest
people on earth.
In the first picture from left to right are: Sam Webster, Dion; Rodney FitzGerald, Walker Crips; Kean Williams, Dion; Craig
Morgan, Canaccord; Steve Turbefield, Smith & Williamson; David Cheatle, Charles Stanley; Andy Bresnan, PSIGMA & William
Rouse, Dion.
Bottom right picture is: Our team with Jason Leonard at the centre.An n u al St ock br oker s & Fin an cial Adviser s Con f er en ce 2017
Dion participated in the An n u al St ock br oker s & Fin an cial Adviser s Con f er en ce held on
24t h - 25t h , M ay 2017, in Sydn ey, Au st r alia. The SAFAA conference is the largest conference and
exhibition in Australia by Stockbrokers and Financial Advisers Association, with over 400 senior
delegates from the industry participating in the event. This year, our Global Head of Sales and
Marketing, Car l Kim ball, participated in a panel discussion to express his views on ?In n ovat ion s in
pr odu ct s an d ser vices t h at w ill sh ape t h e f in an cial in du st r y ?.
Dion launched our new solution, TCWealth ? an integrated platform, enabling stockbrokers to expand their
business into wealth advisory using a single platform.UPCOM ING EVENTS
EBAday 2017
Dion are participating at EBAday 2017 at the Con ven t ion Cen t r e Du blin on 20t h & 21st Ju n e 2017.
EBAday is hosted by the Euro Banking Association and Finextra Research, established as the industry?s
leading forum to learn, discuss and debate the key trends driving change in the payments industry. At
EBAday 2017, we present our RTPE solution, a real-time messaging-based payment solution for
clearing and settlement of SEPA and SWIFT payments; and FinCASE, a financial messaging workflow
solution.
Syst em s in t h e Cit y Aw ar ds ? 13t h Ju ly
Having attained the status of an Accredited system by Goodacr e again this year, we are also nominated
for two awards that will be announced at the Syst em s in t h e Cit y aw ar ds cer em on y on 13t h Ju ly
2017. Hopefully we can build on our previous four ?Best Wealt h M an agem en t Solu t ion?awards this
year.
Pictured are Ian Hurst, operations manager at Investec; James Ince,
Implementation Consultant at Dion; Suman Rao, Global Head Pre Sales at
Dion, with the 'Best Wealth Management Solution' award.Clien t Con f er en ce ? 21st Ju n e We are hosting our An n u al Wealt h M an agem en t Con f er en ce on 21st Ju n e at t h e Leicest er Tiger s Ru gby Gr ou n d Con f er en ce f acilit y, Leicest er . Focusing on MiFID II, our industry experts will share our plans for the future, including development strategy and technology and will also demonstrate our new products. We have sent invites for our M iFID II f ocu sed An n u al Con f er en ce on 21st Ju n e at Leicest er Tiger s Ru gby ? Conference facilities. If you wish to attend and haven?t done so yet, please email alice.palmer@dionglobal.com or jina.kaur@dionglobal.com . Con f er en ce Agen da ? Wedn esday, 21st Ju n e 2017 Arrival from 8:30 onwards for a 9:30 start: 1. Dion update | A review of 2016 & plans for 2017 2. Invantage MiFID II development programme 3. Current MiFID II progress/details workshop* 4. MiFID II, data package - 3rd Party Speaker (Hubert Deroubaix of ICE) 5. Lunch and Tour of Tigers ground 6. MiFID II solution demonstration 7. MiFID II programme ? Professional Services update 8. MiFID II programme related questions & answers* 9. Networking drinks reception from 5pm onwards
KEEPINTOUCH There are a number of ways that we interact with our clients. Below are some examples: Visit Our Websit e: dionglobal.com mifidsolutions.com Day-t o-day Communicat ion Dion Direct ; incident logs, shared logs, change requests, projects. Account Summaries; account management, project management, support via monthly account summaries and associated calls. Support Team; contact support via email at uksupport@dionglobal.com. Market ing & News Newsl et t ers; if you would like to get in touch or to be added to our mailing list contact us here. Mail shot s; specific subject matter mailings such as that attached here. Twit t er; Follow us at @Dion_Global for regular updates. If you have any suggestions, please let us know at connect@dionglobal.com
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