The MiFID II - Customer Protection application called M2 are designed to work with a Bricknode Broker system with version 2.17 or higher.
This application solves the following problems:
Financial intermediaries (securities firms/distributors) has to supply end customers with information about how much costs has been incurred for each of their fund holdings and structured products holdings. Both with regards to how much has been applied by the intermediary in relation to the specific holding and also from within the producer of the financial instrument.
They also have to show how much general costs that have been incurred like account fees, admin fees etc. They also need to show the returns that has been received before fees and after fees. We call this problem costs and charges (Ex Post).
In addition to how much costs has actually been incurred the intermediary has to show the customer for each instrument how much costs that will potentially be incurred for the coming period. We call this problem costs and charges (Ex Ante).
Financial intermediaries has to classify their customers according to their knowledge and fit in relation to the products that are offered so the customer is not allowed to invest in something that they are not fit to invest in. We call this problem target market.
The app supports the following
Import of an EMT V1.0 file
Viewing EMT information in M2
Adding Knowledgroups to be used when adding or editing instruments in Bricknode Brocker.
Import files with kickback levels called Broker Ex Post
Bricknode Broker 2.17 supports the following
Adding one or many knowledge groups to a customer
Adding one knowledge group to an instrument
View EMT data for an instrument
Bricknode Broker 2.24 supports the following
Show Ex Ante information to the customer through the customer portal