The Market in Financial Instruments Directive (MiFID II) of the European Union will make call recording for all banks and security traders within the EU obligatory beginning with the 3rd of January 2018. A closer examination reveals the tremendous demand that MiFID II makes on any call recording system. Besides a comprehensive recording solution, highest security standards and the fulfillment of data protection laws have to be guaranteed. Moreover, the system has to ensure a comfortable administration of all recorded files for up to 7 years.
Ferrari electronic AG offers therefore with OM CallRecording a solution, which matches perfectly with the MiFID II demands.
Best Practice: MiFID II conform Installation and Configuration
This document serves as a best practice to clarify which components and settings of CallRecording have to be used and adjusted in order to fulfill all MiFID II requirements.
Whitepaper: Call recording under MiFID II regulations
In order to judge whether a call recording solution is MiFID II compatible, its legal requirements need to be analysed. These consist of the MiFID II guideline, the consultation papers managed by ESMA and the respective laws on data protection and labour regulation.