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Under the new Markets in Financial Instruments Directive (MiFID), traders who need to confirm client classification and verify the transaction may find their current systems are missing the mark, according to software development specialists Coublis.

With the 1st November deadline for MiFID compliance fast approaching, many traders will find that their existing CRM packages, even if they have been successfully adapted to store MiFID-specific client data, may not have the rigorous performance and continuous availability characteristics needed to provide dependable information in the trading desk environment explains Coublis Sales and Marketing director Geoff Marchant. In addition some of the major CRM vendors are reported to be unlikely to be able to provide full MiFID functionality by the 1st November deadline.

Coublis has recently developed a solution for a major European bank, which is designed to stand alongside the existing CRM application to display the relevant client classification and trade validation data in a concise easy-to–use format. This application can be deployed within the same high performance, high availability environment in which the trading systems operate, which is not normally afforded to CRM systems. The system can be readily configured to an individual bank’s specific business requirements.

The company, established in 2001 by former Computer Sciences Corporation staff, is now talking to other banks and institutions throughout Europe with a view to providing them with this solution.

The Coublis system currently stands alone, allowing for either the direct input of client classification data or a data feed direct from the CRM system. It enables the trader to readily confirm the classification of the client for the relevant asset class (as defined under MiFID) and to validate the trade. It is also fully auditable and produces the necessary audit trails needed to demonstrate MiFID compliance.

Given that many European jurisdictions are unlikely to enforce the November deadline, Marchant believes the pressure has not been on for mainstream CRM vendors to address these issues in the short-term.

Editor’s Notes

Coublis was established in 2001 with the aim of bringing high quality, well designed, secure business applications more commonly found in large companies to the SME sector. Using a proprietary architecture, Coublis combines commonly used business routines together with individual client-specific application segments to construct integrated, flexible, cost-effective applications tailored to the specific needs of each client organisation.

Led by a small group of experienced business executives, Coublis currently has some 20 professional staff and Associates. Coublis has particular expertise in the retail and distribution, financial services, entertainment and professional services sectors.

Coublis moved to their current office in the centre of London at the beginning of 2006 with the majority of their development staff located off-shore.

For more information about Coublis please visit

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