GAM Selects Red Deer’s MiFID II Solution to Ensure Compliance
October 24, 2017 Press Release
Red Deer, a next-generation financial technology company dedicated to enhancing the performance of active investment managers, is pleased to announce that its MiFID II research valuation solution has been selected by GAM, one of the world’s leading independent, pure-play asset managers. GAM will use the solution to consume and value research so that it can be paid for independently from trade execution, in compliance with the MiFID II regulations that come into effect on 3 January 2018.
“The solution that Red Deer offers for managing research consumption, research valuation and preventing inducement under the new MiFID II rules will allow us to ensure compliance across all investment teams in all locations. GAM has strong internal research capabilities, and Red Deer’s solution will help us leverage this across our investment business, in addition to managing access to external research,” said Matthew Beesley, GAM’s Head of Equities. “GAM has announced the decision to absorb all research costs from January 2018 as we continue to place clients’ interests first, and Red Deer’s solution will allow us to manage these costs in the most efficient way.”
Red Deer’s MiFID II solution enables firms to address the MiFID II regulations around inducements and research valuation by aggregating all independent and street research, including emails, calls and corporate access events. It also provides full consumption and valuation metrics, such as ratings and read time, and tracks contributions from hard and soft budgets, with alerting to ensure budgetary thresholds are maintained. Luke Oubridge, CEO of Red Deer, commented, “We are delighted to welcome GAM to our fast-growing client community. It’s a great opportunity to help such a well-established and respected firm achieve compliance, and a chance to add real value to the investment process by improving the quality of front office information for a large number of Investment managers, analysts and traders”.
About Red Deer
Red Deer is a next-generation financial technology company dedicated to enhancing the performance of active investment managers. Serving a client base of the world’s leading hedge funds, asset managers and pension funds, Red Deer is founded on three key pillars – ‘Miss Nothing that Matters’, ‘Turn Data into Decisions’ and ‘Stay Ahead of Regulation’. Red Deer enables active investment managers to intuitively explore and discover, share and collaborate and make data-driven decisions that drive performance, whilst seamlessly staying on the right side of regulation.
GAM is one of the world’s leading independent, pure-play asset managers. The company provides active investment solutions and products for institutions, financial intermediaries and private investors. The core investment business is complemented by private labelling services, which include management company and other support services to third-party asset managers. GAM employs over 900 people in 13 countries with investment centres in London, Cambridge, Zurich, Hong Kong, New York, Milan and Lugano. The investment managers are supported by an extensive global distribution network.
Headquartered in Zurich, GAM is listed on the SIX Swiss Exchange and is a component of the Swiss Market Index Mid (SMIM) with the symbol ‘GAM’. The Group has assets under management of CHF 148.4 billion (USD 153.3 billion) as at 30 September 2017.