Digiterre worked closely with Man Group PLC to develop and implement the groundbreaking trade data listening and reporting solution – known as ‘MOLE’ or “Man Order Listening Engine”, which was designed to address the MiFID II regulatory requirements in advance of the January 2018 deadline while further strengthening Man Group’s competitive advantage by creating an extremely high quality data stream, from which real-time analytics can be performed, to further enhance the trading and operational effectiveness of the firm.
The MOLE platform was awarded HFM European Services Awards “Best Trade and Transaction Reporting Solution" in 2018 and 2019.
Meet the regulatory and reporting obligations of MiFID II for financial organisations, ahead of the January 2018 deadline set by the FCA. Build an internal solution for trade real-time data collection, viewing, analysis and reporting across the whole of Man Group. Expand the data set available to the front office quant teams relating to analysis of trade allocations and Total Cost Analysis, with a view to further improving trading performance. Create a platform to support Man Group’s strategic
growth objectives; specifically to enable acquired and organically grown new businesses to plug-in to the platform at low cost and to then leverage the new regulatory reporting and data analytics functionality.
Development and Delivery of a Strategic and Real-Time Data Analytics and Regulatory Reporting Platform
The core approach involved enabling businesses across the whole of Man Group to publish their trading activity via a central data streaming system that tracks and ‘listens’ to all published trading & lifecycle events, both now and in the future. A solution that can capture, analyse, enrich, transform and store trading data from across all the Group’s business units in low latency timeframes and in a scalable manner.
MOLE has become a critical part of Man Group’s technology and operations platform and integrates with and complements our ROSA Middle Office system to create a best-in-class data processing, analytics and reporting system which will continue to support the growth of Man Group well into the future. The project was undoubtedly demanding, due partly to the hard deadline imposed by the MiFiD II regulation and partly by the choice of leading-edge technologies necessary to satisfy the operational demands of the platform. However, the outcome has been an extremely positive one for all involved and most importantly for the Man Group and its clients