Open MiFID Alliance

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The Open MiFID Alliance (OMA) is a pan-European alliance created in April 2007 by a consortium of technology vendors to aid financial institutions in complying with the Markets in Financial Instruments Directive (MiFID). A research report at the time found that 60 percent of European financial institutions were not expected to meet the November 2007 deadline for MiFID compliance.

The alliance enables financial institutions to adopt practical solutions to accelerate the upgrade of their IT infrastructure and meet the regulatory requirements of the directive. [1] [2]

The alliance is led by Avitis and Sun Microsystems. Partners include Mobius Management Systems, Inc., edge IPK, ULLINK and Gissing Software.

Alliance members have experience in risk and governance, business process management and integration, market data, records management and strategic consultancy.

References

  1. Tech vendors form MiFID alliance. Finextra.
  2. Open MiFID Alliance. edge ipk.