SIA and Banca Akros have reached an agreement to realize Compliance Execution Excellence Program, SIA's program to support the intermediaries in the process of compliance to the new European Directive in Capital Markets.
The program is based on the implementation of SIA-EAGLE: Intermediaries solution, the technological platform which automates the management of internal and external data, facilitating the governance and control of the execution strategy on financial markets.
The first phase of the agreement will be the fulfilment of the Market Abuse Directive requirements: SIA-EAGLE, through a specific module, allows the management (through the CESR Diagnostic Flags) of all the activities related with the detection of suspicious operations, assuring full information during the whole process of the qualitative analysis. SIA and Banca Akros have decided to collaborate having the common belief that this new European changing phase represents not only a commitment but also an opportunity for the entire financial system to grow in quality. The obligation represents just one of the elements of the process: the benefits of change are linked to the reputation value of those banks and intermediaries which, adhering to the legislation, will be able to share a tool to attract new clients and serve better the existing ones.
Massimo Armenise, SIA Director of Capital Markets, has declared: "SIA confirms the commitment in supporting the evolution of the European financial arena. In the next 3 years the intermediaries will have to face significant organizational and technological changes; SIA will offer a programme which will allow them, through the SIA-EAGLE infrastructure, to save time and money and play a key role in this extraordinary moment of transformation."
Ferrante Zilioli, Banca Akros Organizational and Information Technology Director, has declared: "Through CEEP we are confident Banca Akros will grow both technologically and from an organizational point of view. We are sure that we will answer proactively to the legislative requirements. We want to be innovative to create together a system apt both to validate and control activities and to support operativeness. The goal is to give our clients an offer proper and competitive with international best practices, transforming this obligation in an opportunity."