Link Fund Solutions is the first ACD to standardise EMT data for TURN.
Link Fund Solutions recently announced that it is the first authorised corporate director (ACD) to make EMT (European MiFID II Template) data available in a standardised format to the TISA Universal Reporting Network (TURN).
As a founding member of TISA’s Universal Reporting Network, we are working to build an industry-wide platform that would alleviate some of the inconsistencies and challenges that come with regulatory reporting requirements for MiFID II. Now being one of the first to make EMT data widely available, it demonstrates our commitment to helping build a much-needed solution for driving efficiency and reducing costs for the asset management industry.
Created to ease regulatory reporting requirements for MiFID II, the standardised data will be widely available across the asset management industry in Europe, allowing asset managers and distributors to capture, share, and transmit data to all relevant stakeholders. All relevant parties will have access to EMTs on a real time basis which will be of a consistently high quality.
This standardisation helps to meet TURN’s overall objective; to simplify the plethora of fund information needed for regulators and distributors and also cut data and analytics costs for participating firms.
Throughout the process, we have been working closely with KNEIP, the leaders in fund data management and reporting solutions for the asset management industry, to make the data widely available.
Since TURN was first set up in 2020, there has been huge progress made to provide a solution to the collection and distribution of EMT regulatory data. And the standardised data will not only help the processes and costs of asset managers across Europe, but will ultimately mean that investors themselves are offered the best and most suitable products.
It’s an important step in the right direction for the financial services industry as a whole, and we’re incredibly proud of our role in improving the data journey and driving this positive change through.
Driving simplification and consistency through TURN across the funds eco-system will be a huge leap forward for our industry in the UK and Europe. Over many years such data requests and provision have become varied and inconsistent in terms of content, format, and delivery method. This has increased cost and complexity for fund managers and distributors. Our goal at TURN is to provide a solution for the whole industry by simplifying content, providing standard formatting and delivery for all participants.
We at Link Group feel that we have an important stewardship responsibility to challenge the status quo and drive positive change through our industry. In doing so, we aim to continue to reduce costs, enhance efficiency, and ultimately improve investor outcomes.
For too long the fund industry has faced hurdles that create inconsistencies, errors and friction for all stakeholders. Until now, distributors have used their own, manual services to collate and share data, which can lead to errors, inconsistencies and can be difficult to decipher by other stakeholders. This leads to a slow service that lacks transparency.
A template will cut costs and time for the industry, while ensuring clear and comparable fund data for retail investors. Finally, the financial services industry is catching up with more advanced sectors.
Contact us to find out more.