QomplyPi

Centralised Sensitive Data for Firms and Venues


QomplyPi is a cloud-based application used by trading venues and investment firms. The QomplyPi platform centralises the maintenance, processing and distribution of personal sensitive data so as to comply with recent EU MiFID II regulations, GDPR, and data privacy. The solution promotes an integrated financial system, imposes a secure control framework, and reduces operational risk and resources.

Dashboard
Centralised Points

Background

The MiFID II Record Keeping Regulation (RTS24) requires all exchanges and trading venues to collect the personal sensitive data (DOB, passport no, NI, etc) of decision makers employed by investment firms operating on its platforms.

In theory, that sounds straight-forward - in reality, it’s a mess.  Each exchange and trading venue has its own unique data delivery, format and collection framework to obtain this data from investment firms. There is no recognised standard format, communication channel, or delivery mechanism. Therefore, investment firms have had to conform to the requirement of each exchange.

Data Protection/Data Privacy and GDPR further complicate the landscape as these regulations prevent the distribution of personal sensitive data, if its not required.

Today, firms still struggle to effectively identify the required data, send it to the trading venue, and resolve/monitor issues in a manner specific to each trading venue.

QomplyPi is a cloud-based solution that centralises Personally Identifying Information (Pii), more commonly referred to as sensitive data, so as to control maintenance, distribution, and the chain of processing of the data.

Through the QomplyPi controlled environment, trading venues communicate directly with investment firms regarding the data they require. Investment firms, within the QomplyPi platform, can then enter, process, and transmit the Pii data directly to the exchange.

Investment firms enter their Pii data once and securely distribute to all trading venues and authorised recipients requiring the data.

Upload Sensitive Data

Upload data to QomplyPi automatically via the open API or CSV upload or input manually.

Integrate with your existing technical infrastructure or use as stand-alone application.

Maintain

Maintain data
through user-friendly web interface.
Investment firms enter data once and then identify the venues who are authorised to receive the data.

Distribute

Investment firms send data directly to third parties
exchanges, trading venues, and ARMS

Trading venues send notifications to firms for data. Automatic reminders obtain data quickly for reporting


The Problem

Each trading venue has their own data delivery method, messaging, and interface

Investment firms must conform to the requirements of each trading venue

Inconsistent communication has led to too much or too little data being distributed

Too often investment firms are spooked by breaching a MiFID Regulation that they may inadvertently breach a broader EU regulation on data protecting and data privacy, such as GDPR

Staff are forced to duplicate processes and manually manage exceptions whilst conducting resource-intensive tasks related to data acquisition and delivery

The identification of individuals interacting on trading venues can be arduous and error-prone.

Not all trading venues provide investment firms with an identifier of the traders participating on their platforms. Likewise, investment firms may lack the ability to accurately identify their own staff participating on these trading venues

Resource-intensive process for both venues and firms as identification, distribution, notification, monitoring and supporting personal data are complex processes.


The Solution

QomplyPi offers one uniform data delivery method, messaging, and interface to which venues and firms interact

Trading venues communicate with firms via a centralised platform in a secure, controlled environment

Investment firms receive notifications/reminders for data requirements from trading venues

Investment firms enter data once only and then control the release across multiple, authorised recipients

Trading venues can automate cumbersome processes such as exceptions, notifications, and reporting

QomplyPi ensures sensitive data is subject to permissioned-access, authentication, and verification checks

QomplyPi provides complete monitoring of the chain of processing

Comprehensive data processing and data control system - built-in audit and surveillance

Seemless integration - Using the secure, open API, leverage your existing technical infrastructure or integrate the QomplyPi technology directly

Blockchain technology provides audit, security and risk mitigration

Network Nodes
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Integrated Solution

No Fuss Sensitive Data Maintainence in One Place

Investment firms enter data once and distribute in a controlled fashion across authorised recipients such as exchanges, trading venues and ARMS.

Since decision makers trade on multiple trading venues, users can configure data to be sent to multiple destinations for the same decision maker.

Consistent delivery mechanisms remove the need to maintain separate data repositories for each trading venue.

Firms centrally control the maintenance and distribution of its data.

Create Profile
Trading Venue View

Flexible

Depending upon whether you are an investment firm or operating a trading venue, you will have access to tools you need for the function you perform.

If you are an investment firm, QomplyPi shows you the exchanges, trading venues and ARMS that require your data.

If you are a trading venue, readily identify investment firms who need to send you their data for their decision makers partipating on your venue. Automated notifications and reminders reduce effort and free-up resources.

QomplyPi also allows you to customise an export files and recipients so as to be able to send data to any authorised destination.


Easily Comply with EU/UK Regulations

For trading venues and exchanges, QomplyPi automatically identifies participants on your venue that have not provided their sensitive data. QomplyPi alerts you when these firms make data available. Send instant notices to your clients informing them of shortcodes to which they must provide data.

For investment firms, QomplyPi automatically identifies shortcodes required by third party exchanges and trading Venues. Distribute only the sensitive data that is required. This removes the risk of releasing too much data to venues and exchanges. Receive alerts from venues and exchanges when new data is required.

The ability for financial institutions to efficiently access and process data to fulfil regulatory requirements is at the core of QomplyPi.

Send Pi Data to Exchanges and Venues
Trading Venue View

Financial system integration is the power of QomplyPi

By providing a secure, integrated system, QomplyPi bridges communication and data delivery between exchanges and their participants from investment firms.

This integration is not only evident in its ability to bridge trading venues with investment firms but also in QomplyPi’s ability to consume data from internal trading systems and operational infrastructures.


Full Process Automation

QomplyPi has a secure, open API so that users may integrate by leveraging their existing technical infrastructure or by interacting with QomplyPi exclusively. All data can be inserted automatically into QomplyPi via its API or uploaded via its CSV upload facility.

Users can schedule reminders, notifications, and data transfers thereby reducing user-interaction to simple monitoring tasks.

Process automation allows staff to direct effort where it is most valuable.

Send Pi Data to Exchanges and Venues
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Benefits to Investment Firms

Financial system integration eases interaction with exchanges and venues – Communicate directly, securely, and in a controlled environment
One consistent interface to all exchanges and venues – irrespective as to whether they are members of QomplyPi
Centralised data – enter once, distribute across many
Monitor data in one place across venues
Reduce operational and regulatory risk
Increase operational efficiency by eliminating redundant tasks and duplicated data
Ease of use in data reconciliation, reporting, and monitoring
Manage data and compliancy issues in one place
Identify and address exceptions in a timely manner
Comply with regulatory requirements to supply data
Eliminate the delivery of superfluous or non-required personal data to recipients – deliver only what is required and relevant to each exchange or venue
Reduce errors
Uphold best practices with a control framework
Demonstrate compliance through QomplyPi reports – captures chain of processing, data delivery, data requests, and duration


Benefits to Exchanges and Trading Venues

Add value and address the needs of your clients – provide a consistent, intuitive, and automated communication and data delivery channel
Demonstrate due diligence and compliance with regulatory obligations through QomplyPi reports
Push communication directly to your client. Missing data alerts, messaging, and reconciliation all automated and intuitive
Scalable – add additional venues or white label for your clients
Reduce errors, resources, and time – centralised data and automation work for you
Reduce operational and regulatory risk
Transparent access to data, reports and monitoring tools
Flexible – Leverage your existing infrastructure or use independently
Monitor exceptions and data acquisition – through automated functions or manually
Automatically or manually send notifications for missing data
Demonstrate to your client base that you are employing technology the eases the operational burden for everyone

Let's Get In Touch!


Want to know more or just want to phone us up for a chat?

+44(0)20 8242 4789