ResearchPool to address new market needs arising from the implementation of MiFID 2

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Abstract

Market participants need solutions for research related issues that have not been addressed or even foreseen by the drafters of MiFID 2. To this end, ResearchPool is partnering with its clients to devise innovative solutions to help meet these new needs while remaining fully compliant with diverse regulations, including Europe’s MiFID 2 but also several others including Market Abuse Regulation. The recent appointment of Etienne Daignault, a former lawyer and compliance officer with extensive finance and regulatory expertise, bolsters this commitment.

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ResearchPool aims at streamlining time and management constraints for research providers, end-users and managers. Its end-user roster includes private banks and asset managers.

Client surveys conducted by ResearchPool indicate that many require practical and scalable solutions. To name only two:

  • Emergence of a buy side research market: Portfolio managers wish to distribute but also purchase from other managers internal research to complement their analysis.  ResearchPool as a platform will enable the distribution and sharing of such research across a set of entities and generate the right data points to price out the reports.  Yet, a regulatory issue arises as to which status should the portfolio managers adopt and how to organise themselves internally.
  • Ad hoc research sourcing: “on the shelf” research can often be insufficient as issuer-led sponsored research and sell side natural offering lack insights on precise aspects of the market.  This often requires seeking new sources, finding out their credentials, going through a long procurement, possibly while staying anonymous.  ResearchPool acts as a single point of entry for analysts and can cut down the hiring time to days if not hours.  As clients are opening funds dedicated to specific topics for which they wish to “pull” ad hoc research, an additional question arises as to how to embargo such research before it is distributed, and what disclaimers to add to those reports in order not to run afoul of the Market Abuse Regulation.

These are only selected, already live, examples of innovative setups that ResearchPool is currently working on with its clients. While technological developments are crucial to provide actionable responses and simplify human processes, prior rigorous regulatory analyses and continued discussions with relevant securities and markets regulators is mandatory.

We are therefore pleased to have Etienne Daignault join us to spearhead the Solutions team.  

“As ResearchPool built up, we have taken special care to have clients use cases in mind to concentrate on the most important developments, whilst keeping a close relationship with regulators.  Their actions disrupt the investment intelligence market.  Our job is to serve clients and regulators in these developments as pioneering new approaches will ignite value and stimulate new offerings.  Etienne came at the right time to join the dots between clients and regulators, and spearhead the  related product development.”

Anne Gaignard, Chief Commercial Officer

Etienne’s remit will be international, with a particular focus on continental Europe and North America.

About Etienne Daignault

A lawyer by training and a former compliance officer, Etienne brings over 15 years of experience in the financial sector. In addition to holding legal and compliance positions for two major investment banks, he has overseen compliance issues relating to research and equity capital markets for a large pan-European independent broker. He has been actively involved in issues surrounding the implementation of MiFID 2, a directive he recently taught on as guest lecturer at the University of Bordeaux.

About ResearchPool

#ONE: ResearchPool is Open, Neutral, European.

ResearchPool is the leading open platform to sell and purchase research reports, and a MiFID 2 solution for investment firms to manage spending usage and evaluation of research.

Its vision is to be the most user centric digital platform for smart sharing and use of financial intelligence. ResearchPool was founded in early 2015 by infrastructure specialists who had a strong belief that a more efficient and transparent capital markets supported by digital technology.

Amazon Alexa regularly ranks ResearchPool as the most popular platform for investment research. 

ResearchPool is a certified Fintech by the French public cluster Finance Innovation, and a member of France Digitale.

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