Keeping the finger on the pulse

24 September 2018

As a business with an intensely client-focused proposition, we find that the best way of meeting the needs of our clients is to have a regular open forum where we can discuss our upcoming projects with them.

Our Client User Groups, focus on regulatory change, product development and a roadmap of upcoming technology upgrades. They enable us to take on client feedback from an early stage and keep the needs of our clients at the heart of the constant evolution of our products and services. Our most recent Client User Group was held in August at our London office, where we discussed our upcoming projects, as well as wider issues affecting the industry at large.

The main topic of discussion was MiFID II and the requirement for those that provide investment services to disclose all associated costs and charges to their clients. Multrees will help provide reports on behalf of our clients, and we proposed a timeline for the development and delivery of these reports that puts us ahead of the April 2019 regulatory deadline.

The format of the reports will be developed in consultation with our clients, with several different options being looked at. We used an industry template provided by the Tax Incentivised Savings Association (TISA) as a starting point for discussion, before confirming the specific key requirements of our clients, such as the required granularity of the reporting.

The discussion also covered FX timestamps. We are implementing a solution that will allow FXs to be routed with automation, provide greater transparency and allow for the checking of best execution. The workshop provided us with a useful avenue to directly demonstrate this development work to our clients, ensuring openness and transparency throughout the process.

We also looked at a roadmap for some of our system upgrades. This includes processing improvements and client enhancements, following on from last year’s platform upgrade. For example, a further update to our custody platform will provide an increased number of private equity transactions types, to enhance the full service solution we have in place today. This builds upon our expertise in the custody and servicing of illiquid assets, which requires a more bespoke approach than market-listed investments.