A UK-based financial technology company has launched a service to help fund managers meet the requirements of the MiFID II regulation.

Calastone has launched a market intelligence service which aims to give fund managers insight into their global fund distribution while helping firms meet changing regulatory obligations.

Calastone Data Services will collate bottom-up transactional data across the global distribution chain to create a detailed view at both market and individual firm levels.

The launch comes in response to a change in the European regulatory framework MiFID II, which will require fund managers to have full transparency on where their products are being sold.

“Many fund management firms are not prepared for the scope and volume of work required to simply achieve look-through of their product distribution, a task that involves the consolidation of data across thousands of administrators, distributors and advisors,” said Rob Swan, managing director - Data Services at Calastone.

“We anticipate that aspects of the upcoming MiFID II regulation will require fund managers to add a market overlay to monitor the full distribution chain effectively. The scale of this task should not be underestimated. The recent one-year delay of the regulation must not be seen as an opportunity to defer the project, but rather as time to ensure compliance with their regulatory obligations.”

Calastone, which connects trading partners through its fund transaction network, has around 910 customers across 27 domiciles processing domestic and cross-border transactions.