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Version: 18

MiFID

What does MiFID do?​

You can find more information here.

Instructions​

FSP definition​

Modules​

At least the following modules need to be enabled:

  • ADVICE
  • FLOW
  • MIFID

Configuration​

Under Products you can add the applicable products.

Harmoney supports the following products with respective id:
  1. CASH
  2. STOCKS
  3. STOCKS_EMERGING_MARKETS
  4. BONDS
  5. BONDS_EMERGING_MARKETS
  6. CONVERTIBLE_BONDS
  7. SUBORDINATED_BONDS
  8. PERPETUAL_BONDS
  9. FUNDS
  10. INSURANCE_CONTRACT_BRANCH_21
  11. INSURANCE_CONTRACT_BRANCH_23
  12. INSURANCE_CONTRACT_BRANCH_26
  13. STRUCTURED_PRODUCTS_WITH_CAPITAL_PROTECTION
  14. STRUCTURED_PRODUCTS_WITHOUT_CAPITAL_PROTECTION
  15. TRACKERS_EXCHANGE_TRADED_FUNDS_ETF
  16. REAL_ESTATE_CERTIFICATES
  17. GOLD_PRECIOUS_METALS
  18. PRODUCTS_LINKED_TO_NATURAL_RESOURCES
  19. DERIVATIVES
  20. HEDGE_FUNDS
  21. PRIVATE_EQUITY
  22. FORWARD_TRANSACTION
  23. ASSET-BACKED_SECURITIES
  24. EXECUTION_ONLY
  25. WEALTH_ADVICE
  26. WEALTH_MANAGEMENT
  27. PRIVATE_PLACEMENT_IN_BONDS

Questions​

  1. To calculate an investment profile, scores need to be set on specific question answers. Go to the related questions and add the respective score in the choice setting.
  2. To link certain questions to a product, add the respective product id in the question setting ID product

Form definition​

Configure a form definition taking the following into account:

  • Bundle all questions related to financial situation in a section with subsegment FINANCIAL_SITUATION
  • Bundle all questions related to knowledge in a section with subsegment KNOWLEDGE
    • bundle all related questions to a single insurance product in a section.
  • Bundle all questions related to investment objectives in a section with subsegment GOALS
  • Add a section with subsegment ADVICE

Flow definition​

  1. Make sure the responsibilities FINANCIAL_SITUATION, KNOWLEDGE and GOALS are enabled
  2. Add respective flow steps MIFID_V2_FINANCIAL_SITUATION, MIFID_V2_KNOWLEDGE_EXPERIENCEand MIFID_V2_GOALS with module MIFID

Profile definition​

A profile definition needs to be requested.

  • Define which scores should lead to which profiles.
  • Define which question identifiers are linked to which responsibility.

Dossier definition​

Create a dossier definition with type INSURANCE. The service should be equal to an insurance product in order to be able to manage the RBA sensitivity. Don't forget to link the profile definition in the Profile configurations.