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Zuhamy Villasenor Feb 15, 2016 12:28:54 PM 3 min read

Eurobase engages FMR Advisory Ltd

Eurobase International Group is pleased to announce it has partnered with FMR Advisory Ltd to support its strategic focus on providing consultancy and software solutions to financial organisations impacted by MiFID II (the pending Markets in Financial Instruments Directive legislation).

The global software and services group, which acts as a trusted software provider to many of the world’s leading banking and financial organisations, has targeted its recent product investment to providing a universal solution to meet the regulatory demands brought about by MIFID II. During this period of investment Eurobase engaged FMR Advisory Ltd to independently verify its interpretation of the MIFID II requirements and solution offering.

Eurobase’s engagement with FMR is now being extended into a formal relationship in order to offer clients impartial expert advice as part of its consultancy and available solutions.

First applied in the UK from November 2007, MiFID is currently being revised to improve the functioning of financial markets. Known as MiFID II, the new legislation includes a revised MiFID and a new Markets in Financial Instruments Regulation (MiFIR) and is anticipated to come into force in January 2018, if not before.

Commenting on the new partnership, Joe Locke, Chief Executive of Eurobase Banking and Insurance Solutions, said: “MiFID II is going to have a profound effect on the industry and companies need to start planning now for the changes ahead of the pending finalisation of the EU legislation. Choosing your MiFID solution means finding a solution which can complement and work alongside your existing landscape. At Eurobase we have invested in a solution that meets the requirements brought about by MiFID, without the need to overhaul existing systems and infrastructure. Having engaged FMR to verify our interpretation of the legislation and solution, we are pleased to extend this and be able to offer FMR Advisory’s strategic advice as part of our own service offering.

Robin Poynder, Director at FMR Advisory explains: “Preparing for the introduction of MiFID is a far-reaching set of work for all financial companies operating in the EU. The delay to 2018 simply gives everyone a little breathing space and should not suggest easing off any efforts. FMR Advisory works with an extensive experience and knowledge that brings real benefit to the firms we advise. We are looking forward to extending our relationship with Eurobase and its clients as they plan and implement their strategies around MiFID.”