Press Release

MünchenerHyp partners with Finastra to meet regulatory reporting requirements

Project streamlines compliance process, enabling real-time reporting for MiFID II, and future support for EMIR and SFTR

London, UK – November 8, 2018, Finastra today announced that Münchener Hypothekenbank eG (MünchenerHyp) is using Finastra’s Regulatory Reporting solution to meet the post-trade transaction and transparency reporting requirements of MiFID II and the associated Markets in Financial Instruments Regulation (MiFIR). MünchenerHyp worked closely with Finastra and local implementation partner Finbridge to successfully deliver the project ahead of the MiFID go-live. By integrating the solution with its front-office Fusion Post-Trade trading system, the bank has gained an end-to-end platform with the ability to support regulations such as EMIR and the Securities Financing Transactions Regulation (SFTR) in the future.

“MiFID II was not just a compliance exercise for us. It also brought major strategic implications and required major changes to almost all aspects of capital markets trading,” explained Robin Welsch, Head of IT Applications, Capital Markets and Treasury at MünchenerHyp.

“Finastra’s Regulatory Reporting solution delivered all the standard interfaces we needed right out of the box, meaning that we didn’t have to dedicate too many internal resources to development for our existing Post-Trade application,” said Thomas Raab, IT Coordinator for the MiFID II implementation at MünchenerHyp. “This saved us money and made for a quick and straightforward deployment, which was crucial as we had a very strict timeline for MiFID II compliance. Moreover, we now have an option to rely on this solution for ongoing reporting.”

The bank had to incorporate many last-minute changes from regulators in the run-up to the MiFID deadline. Finbridge took the lead in communicating these requirements to the Finastra development team, who worked continuously to integrate the changes. Today Finastra’s Regulatory Reporting solution reports all relevant instruments from the Fusion Post-Trade systems at MünchenerHyp to the Approved Publication Arrangements (APA) and Approved Reporting Mechanism (ARM) repository services. These are then transmitted to National Competent Authorities (NCAs) for validation.

“MiFID II is fundamentally transforming capital markets trading across the whole of the EU. While the financial penalties for non-compliance can be steep, the bank’s reputation is also at stake. It’s essential that banks put robust and efficient systems in place to comply with regulations, while servicing their clients effectively,” said Pedro Porfirio, Global Head of Capital Markets at Finastra. “For MünchenerHyp, our solution has helped to streamline the path to compliance and meet the demands for real-time reporting. Importantly it can also be expanded to support other regulations, such as EMIR and the SFTR, offering the bank a futureproof platform for its reporting needs going forward.”

For further information please contact:

Caroline Duff
Global Head of PR, Finastra
T: +44 (0)20 3320 5892

Harriet Pickering
PR Specialist EMEA, Finastra
T: +44 (0)20 3320 5317

About Finastra

Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology.
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