MAP FinTech is shortlisted for the Best RegTech/Reporting solution at the FMLS25 Awards
MAP FinTech is proud to announce that we have once again been nominated for the Best RegTech Reporting Solution at the Finance Magnates London Summit (FMLS) Awards 2025! Voting is now open to all registered Finance Magnates London Summit 2025 attendees and will run until 17 November 2025. The winners will be revealed and celebrated during the prestigious London Summit Awards Ceremony on 27 November 2025. If you haven’t registered yet, there’s still time! Registration is free for Asset/Wealth Management, Banks, Crypto/Digital Assets, Government/Association, IB/Affiliate, Retail Brokers, Startup, and VC/Private Equity. You can register here. Once registered, don’t forget to show your support and cast your vote for MAP FinTech! You can vote here. You can also find a step-by-step guide on how to register and vote here. We truly appreciate your continued trust and recognition. MAP FinTech will also be attending the London Summit 2025. Meet our team to discuss how our cutting-edge RegTech solutions can streamline your compliance and regulatory reporting processes. Contact us to arrange a meeting. We look forward to connecting with you in London!
Vote for MAP FinTech as the Best RegTech Reporting Solution at the FMLS 2024 awards
MAP FinTech is honored to be nominated once again for the Best RegTech Reporting Solution at this year’s Finance Magnates London Summit (FMLS) Awards 2024! Voting is now open to all registered Finance Magnates London Summit 2024 attendees and runs until 11 November 2024. Winners will be celebrated at the London Summit Awards Ceremony on 20 November 2024. If yet to register, it’s not too late to do so! Registration is free for all FX/CFD brokers, banks and startups (up to 5 employees). You can register here. You can cast your vote here. We would be grateful to have your support! MAP FinTech will also be attending the London Summit 2024. Contact our team to arrange a meeting and learn more about our RegTech solutions and how we can help enhance your compliance and reporting processes. We look forward to seeing you in London!
MAP FinTech at iFX EXPO International 2025
We are excited to announce our participation as an exhibitor at the upcoming iFX EXPO International 2025, taking place from June 17–19 at the City of Dreams Mediterranean Resort in Limassol, Cyprus. As one of the premier B2B events in the online trading and fintech calendar, iFX EXPO International brings together brokers, fintech innovators, payment providers, and regulatory experts from across Europe, the Middle East, and Africa. Our team of experts from MAP S.Platis and MAP FinTech will be present at booth #15, ready to demonstrate how our cutting-edge solutions and tools can simplify and enhance your compliance processes. Book a meeting with us to discover how our solutions can bring tangible value to your business. We’re excited to connect with industry professionals and build new partnerships at this premier event. See you in Limassol!
MAP FinTech Showcases Innovation at GITEX Europe 2025
MAP FinTech is proud to announce its participation as an exhibitor at GITEX Europe 2025, Europe’s premier tech and startup event, taking place from May 21–23 at Messe Berlin. This global gathering will convene the world’s top tech innovators, government leaders, and industry powerhouses to shape the future of Europe’s digital economy. As a leading provider of regulatory technology solutions, MAP FinTech will showcase its cutting-edge RegTech innovations, designed to help financial institutions navigate complex compliance requirements with efficiency and precision. Engage with MAP FinTech at GITEX Europe Come and meet us at Stand H1.2-D40, where our team will be ready to discuss how MAP FinTech’s solutions tackle the evolving challenges of regulatory compliance in the financial sector. We will also demonstrate how our cutting-edge technology is helping firms respond to regulatory demands with greater agility, accuracy, and efficiency. Additionally, our CEO Panayiotis Omirou, will be participating in the event’s Tech Talks, offering insights into the future of RegTech and explaining why MAP FinTech continues to be a trusted partner to financial entities across Europe and beyond. We look forward to seeing you in Berlin!
MAP FinTech Proudly Sponsors the ACIFF Annual General Meeting 2025: A Key Industry Event
MAP FinTech is proud to be a key sponsor of the Annual General Meeting of the Association of Cyprus International Financial Firms (ACIFF), taking place on Thursday, 6 March 2025, from 17:30 to 18:30 via Teams. This virtual event will feature distinguished speakers, including Dr. George Theocharides, Chairman of the Cyprus Securities and Exchange Commission (CySEC), and Mr. George Karatzias, Executive Member of the Board of Directors at the Central Bank of Cyprus (CBC). The session will open with a welcome address from Mr. Demetris Taxitaris, Chairman of ACIFF, and will be moderated by Mr. Mateo Jarrin Cuvi, AGRC Global Manager for Partners & Media at The Association of Governance, Risk and Compliance.
ESMA Consultation Paper – Review of RTS 22 on transaction data reporting under Art. 26 and RTS 24 on order book data to be maintained under Art. 25 of MiFIR
As we have already noted in a previous blog post, with the departure of the UK from the EU, it was expected that at some point the transaction reporting regimes of both jurisdictions would begin to diverge. Now it appears that this process is picking up steam, as the FCA and ESMA are consulting for changes to their respective MiFIR transaction reporting regime. The FCA is also consulting on changes to its MiFIR reporting regime, see our blog post here. On the 3rd of October 2024 ESMA published a consultation paper proposing changes to the aforesaid transaction regime. MAP FinTech has already drafted its responses and intends to submit its views to ESMA’s consultation. See below a non-exhaustive list of changes that ESMA is proposing. Increase the total number of reportable data points by 48 new values and renaming existing data points ESMA is proposing to include additional fields that in some cases aim to better align MiFIR with other reporting regimes such as EMIR Refit. To this end, ESMA is proposing to include data points such as: Option Premium, Receiver of Leg1/2, Floating Rate, Spreads, Effective date, Reference period of the floating rate, Term of floating rate. These fields are fields EMIR reporting entities are familiar with, as ESMA is proposing to align (to the extent possible) MiFIR with EMIR reporting. MAP FinTech notes that not all 48 data points will be applicable to all trading scenarios. Further to the above ESMA is also proposing to change the definition and/or naming of some data points to align with the definitions/naming given under either SFTR or EMIR. Identifiers linking all transactions in off-exchange trading For any off-venue transaction ESMA is proposing the inclusion of a new field, the Transaction Identification Code (TIC). If ESMA’s proposals are accepted, all firms in a transmission chain will be required to report the same TIC code, liking all reports. For Example assume a chain where the Client submits an order to Broker1 then Broker1 further submits the order to Broker2 then Broker2 to Broker3 and so on. Each of the aforesaid Brokers if they have a MiFIR reporting obligation in the EU will be required to report the same TIC in their respective reports. ESMA proposes that the “Market Facing” firm should be the firm responsible for the TIC’s generation and dissemination further down in the transmission chain. Moreover ESMA is also proposing to standardise the TIC which will consist of elements such as Instrument Identifier, Date Time, LEI of generating entity. New Identifiers for Distributed Ledger Technology – DLT securities and for securities whose underlying assets are crypto-assets ESMA is proposing to adopt ISO 24165 Digital Token Identifier standard for DLT securities and underlying financial instruments to identify tokenised securities or similar. For a brief overview of the ISO refer to our earlier blog on ANNA-DSB’s adoption of DTIF codes for derivatives on crypto assets. Should ESMA’s proposal be accepted firms that trade with DLT securities or securities whose underlying are crypto assets and under the assumption that the aforesaid securities are captured by the MiFIR reporting obligation, reporting firms will need to source the aforementioned ISO code. Extending Art.4 of RTS 22 to include firms trading on Dealing on Own Account Under the current RTS 22 regime, firms trading under trading capacity DEAL cannot make use of the reporting exemption afforded under Article 4 of RTS 22. ESMA proposes extend the applicability of Art.4 to such firms. Reporting client/counterparty categories ESMA proposes the addition of a new field that will capture the category of the clients/counterparty. The said field will be allowed 4 values – Retail Client, Elective Professional Client, Professional Client and Eligible Counterparty. For every trade where the firm submits a report it will need to assign a category to its counterparty/client in accordance with the aforementioned. Proposal to switch from XML to JSON ESMA is requesting feedback on the issue of switching MiFIR reporting format from XML to JSON. As per the consultation paper ESMA is considering the gradual switch of various reporting regimes from an XML format to JSON. ESMA is asking respondents for their views on the proposed switch, including indications on costs, timelines of implementation and potential benefits. The Consultation paper contains many more proposed amendments to MiFIR’s reporting requirements. ESMA is accepting feedback from market stakeholders till the 17th of January 2025. Once the consultation phase ends, ESMA will proceed to analyse the responses and adjust the proposals accordingly, then it will submit the amended RTS for approval by the EU commission. How can MAP FinTech Assist MiFIR Transaction Reporting is our service that allows clients to report their transactions in Financial Instruments as per the requirements of the Markets in Financial Instruments Regulation (MiFIR, Article 26) to the National Competent Authority (NCA), either directly or through an Approved Reporting Mechanism (ARM). Transaction data received on our Polaris Platform is processed, enhanced, validated and subsequently submitted in the format prescribed by each NCA. Contact our team of experts for more information or any assistance you may require.
MAP FinTech Sponsors the 2024 “Let’s Shave” Event for Prostate Cancer Awareness
MAP FinTech is honored to announce our continued support as a silver sponsor for the 2024 “Let’s Shave” Event in Limassol. Organised by the Limassol Women and Men Hairdressers Association, this meaningful event raises awareness and funds in the fight against prostate cancer. This year’s event will take place on 7 November 2024, from 4:30 p.m. to 7:00 p.m. at INDUSTRY BAR on Saripoulou Street, Limassol. For a minimum donation of 5 euros, attendees can enjoy a professional trim or shave, with proceeds going to the Oncology Ward at Limassol General Hospital. Join us in making a difference. Together, we can support critical care and raise awareness for men’s health! We look forward to seeing you there!
MAP FinTech at the Finance Magnates Pacific Summit 2024
We are thrilled to announce that our Commercial Director, Costantinos Malialis and our Head of Analysis and Support, Chrysovalantis Nikolaou will be attending the Finance Magnates Pacific Summit (FMPS) 2024 in Sydney, Australia, from 27- 29 August 2024. The Finance Magnates Pacific Summit is a premier event in the financial services industry, bringing together key players, industry leaders, and innovators from around the globe. This summit provides a unique platform to discuss the latest trends, share insights, and forge valuable connections. We are eager to connect with other attendees, partners, and clients at the summit. If you are attending FMPS 2024, we would love to meet you! Please feel free to reach out to us beforehand to arrange a meeting and find out how you can benefit from our unique RegTech offerings. We look forward to a productive and insightful experience at the Finance Magnates Pacific Summit 2024 and hope to see you there!
iFX Expo International 2024: Connect with MAP FinTech’s Experts
We’re excited to announce our participation as an exhibitor at iFX Expo International 2024, a premier event in the financial industry calendar. This prestigious expo gathers professionals from the global online trading, financial services, and fintech sectors, making it a significant platform for networking and business development. The event will take place at the City of Dreams Mediterranean Integrated Resort in Limassol, Cyprus on 18-20 June 2024. Our team of experts from MAP S.Platis and MAP FinTech will be present at booth #81, eager to discuss how our innovative solutions and tools can streamline your compliance processes. Arrange a meeting with us to discover firsthand how our solutions can benefit your business. We look forward to connecting with industry peers and forging new partnerships at this prestigious event. See you in Limassol!
Unique Product Identifier: Crypto-asset identifiers
Unique Product Identifier: Crypto-asset identifiers As we had discussed in previous blog entries regarding the UPI and the technical data on how to generate the UPI, we now turn our focus on a specific aspect of the UPI. UPI for derivatives on crypto-assets. As mentioned in our January blog entry, ANNA-DSB has adopted various standards widely accepted by industry stakeholders. E.g. ANNA DSB adopted the following standards: for currencies the three letter ISO 4217 code; for Securities their ISIN, or SEDOL, or CUSIP, or FIGI; for Equity Indices, their ISIN or official name as published by the index administrator; etc. Crypto assets represent a particular problem, due to their nature they are not standardised nor are they issued with any unique identifier. As such, crypto-asset jargon widely used to identify such assets is not standardised nor unique, e.g. bitcoin is sometimes referred to BTC or XBT, while Ethereum Ether, is sometimes referred to as Ether, ETH or with Greek letter Xi Ξ. In order to avoid duplication pitfalls, for crypto-asset identifiers, ANNA-DSB has decided to adopt the identifiers issued by the Digital Token Identifier Foundation – DTIF. The code is a unique 9 letter code that characterizes each crypto asset maintained and issued by the aforesaid foundation. See below a non-exhaustive list of crypto-assets with their corresponding DTIF code. [table id=Token_DTIFs /] As such entities that want to generate or retrieve UPIs on crypto-assets derivatives, they should, be aware of the appropriate identifier of the underlying reference value (the crypto asset) in this case the crypto-asset DTIF code. For a comprehensive list of the DTIF codes that ANNA DSB has included in its libraries refer to the link here. See also a short list of issued UPIs on the basis of the above. [table id=Token_DTIFS_UPI /] *Disclaimer, the DTIF codes and the Unique Product Identifiers in this blog are presented for information purposes only, for an up-to-date list of DTIF codes and/or UPIs consult Digital Token Identifier Foundation and/or ANNA – DSB resources. How is MAP FinTech going to assist? MAP Fintech offers the UPI Link Service that helps retrieving companies match their products’ attributes precisely to those already issued UPIs, ensuring that reporting companies use the correct UPI Code. MAP FinTech’s UPI Link Service boasts essential functionalities, including: Automated identification of UPIs using reference data provided by the reporting entity and the latest issued UPIs supplied by the ANNA-DSB. UPI enrichment of reported files prior to submission to the TR. Error identification where UPIs cannot be mapped against the ANNA-DSB’s issued UPI records. Inline editing capability for on-the-fly amendments on the UPI. Advanced search function from within Polaris portal which can pinpoint the exact UPI based on enhanced search criteria.