Large Regional Banks Join in MiFID II Initiative Under Project Sentinel
Posted: Mon Jun 20, 2016 9:44 am
A new multi-bank initiative has been announced today called ‘Project Sentinel’, aimed to help share costs that firms incur related to MiFID II implementation for Over-the-Counter (OTC) related front office trading technology, according to an official announcement from Etrading Software.
Project Sentinel will use a regulatory model with data normalized to help firms meet their front office OTC sales and trading activities, by combining a number of institutions that will contribute to the project that aims to provide shared benefits as a standardized approach to MiFID II regulatory technology is sought.
According to people familiar with the deal, as explained to Finance Magnates ... (read more)