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Operations: Swinging the axe at data management costs A not-for-profit industry ‘utility’ has demonstrated it can slash data management costs related to MiFID II. Alex Rolandi speaks to those involved, asking about the project’s future – and where the cost reductions are made. In December last year, The Investment and Savings Alliance (Tisa) launched a blockchain-powered tool aimed at reducing data management costs within the funds industry.  Since its inception, it has claimed to save firms involved in the project sums in excess of £100,000 (€115,600). Participants – which inc...

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....