The Beast Apps Launches Minotaur Solution
- Security and Compliance
- 07.12.2016 10:30 am
The Beast Apps, a leading global provider of rapidly deployed data, analytics, trading and compliance solutions for the financial services industry announced the launch of Minotaur, available for demonstration today. Minotaur provides banks with a MiFID II compliance solution that integrates disparate systems for client, sales, and trader workflow across any asset class. Minotaur helps banks integrate and deploy a comprehensive MiFID II solution well in advance of the January 2018 deadline.
Faced with the urgency of the mandate, the tasks of integrating data, analytics, risk, trading and business process management system components from disparate systems while simultaneously building components such as rule engine and reporting engine to meet the MiFID II demands are resource intense and cost prohibitive. Most internal systems were not constructed to meet MiFID II compliant workflow demands for all asset classes and do not “speak” to each other for compliance purposes.
Minotaur is the solution.
Regardless of complexity or system, Minotaur is the only available solution that integrates various components, regardless of technology and interface, by both function (client, sales, trading, or compliance) and asset class (Minotaur has data models for over 100+ On Exchange and OTC trading instruments, and new products and asset classes are easily added). It can easily be integrated with existing components that a client has to create a MiFID II compliant workflow solution or can be used to fill in gaps in existing or planned internal approaches. As a front-end solution Minotaur can connect to any integration layer in any language or tech protocol and deliver on its solution in any format needed by clients.
Said Vinayek Singh, The Beast Apps CEO: “Regulatory burdens can further add to the costs and resource demands of already stretched IT groups. Minotaur at once allows groups to have the confidence that the regulatory mandate is fully met in a cost effective way, while freeing resources to create added business specific value. In addition, for firms that embrace the MiFID II requirements, Minotaur allows them to reevaluate existing business norms and introduce improved optimization and workflow efficiency”.
Said Ashok Mittal, The Beast Apps President: “The Beast Apps has a complete asset class neutral client-sales-trader MiFID II compliant workflow ready and available, today. Just as business and project coordination must occur between compliance, business, and IT teams to meet the regulation, so the underlying systems must also be coordinated and integrated to effectively comply with a MiFID II compliant system. Minotaur’s versatile portability layer eases pains in bringing various components together quickly, its asset class neutral data model means all products can become MiFID II compliant, and its rich UI layer allows one to create a complete client-sales-trade workflow solution ready much before the deadline.”