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A major European Investment Bank

Planned the end-to-end classification and communication programme and worked with the bank to secure the required resourcing.
Ran the design authority for the processes and software required to support the classification regime
Oversaw the process documentation and software build.
Managed the operational execution of the programme using on-shore resources in London and off-shore resources in India.

The Client

A major European Investment Bank.

The Challenge

The Markets in Financial Instruments Directive (MiFID) effective 1 November 2007 required financial institutions MiFID classify all clients doing business in Europe as either Eligible Counterparty, Professional or Retail.  Financial institutions faced a major task of categorising all their clients and notifying clients of the new terms of business depending on their MiFID classification.
There were a range of criteria to be applied to determine classification and an extensive programme of operations and IT work was required to classify and notify the banks’ wholesale client-base of c.160,000 clients.

The Solution

Lysis planned the end-to-end classification and communication programme and worked with the bank to secure the required resourcing.
Lysis ran the design authority for the processes and software required to support the classification regime and oversaw the process documentation and software build.
Lysis then managed the operational execution of the programme using on-shore resources in London and off-shore resources in India.

The Outcome

The programme to classify all clients and issue new terms of business was successfully completed by the 1 November 2007 deadline.