Digital utility shown to dramatically lower MiFID data costs Dec 21, 2020 By Funds Europe
A digital utility has managed to lower data management costs related to MiFID II by over £100,000 (€110,000) for firms involved in the project.
The firms – which include the fund platform Allfunds and asset manager Fidelity International – belong to the Tisa Universal Reporting Network (Turn), which has officially launched.
Described as an industry-run utility, Turn’s aim is to ease regulatory reporting requirements of MiFID II and is now available across Europe based on blockchain technology.
The participating firms – which also include transaction network Calastone and Deutsche Bank - have disclosed that their data management costs averaged £200,000 per year until adopting Turn, after which the costs fell to less than £30,000 per year.
TwentyFour Select Monthly Income Fund - Annual Financial Report
PR Newswire
LEI: 549300P9Q5O2B3RDNF78
Annual Report and Audited Financial Statements
For the year ended 30 September 2020
The Directors of TwentyFour Select Monthly Income Fund Limited (the Company ) announce the results for the year ended 30 September 2020. The Report will shortly be available via the Company s Portfolio Manager s website www.twentyfouram.com and will shortly be available for inspection online at www.morningstar.co.uk/uk/NSM
SUMMARY INFORMATION
The Company
TwentyFour Select Monthly Income Fund Limited (the Company ) was incorporated with limited liability in Guernsey, as a closed-ended investment company on 12 February 2014. The Company s Shares were listed with a Premium Listing on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange ( LSE ) on 10 March 2014.