The European MIFID Template was designed by the financial industry in response to requirements introduced by MIFID II. It enables manufacturers of financial products to provide all necessary information to distributors in a standardised format. The first version of the EMT was drafted by the European Working Group. Today, Financial Data Exchange (FinDatEx) coordinates its maintenance and development.
From 1.0 to 3.0
EMTs are changing
Are your EMTs compliant?
What’s happening with the EMT?
On 10 December 2019, FinDatEx endorsed a third version of the EMT. While this new version builds on the existing one, it includes new sections, new fields, name and value changes to existing fields, and requirements updates.
What’s the impact?
Two things. Fund manufacturers need to start providing the new EMT 3.0 to their distributors and data providers. They also need to both versions in parallel during that transition period.
When is the deadline for switching to EMT 3.0?
10 December 2020.
So what version should be used until then?
It depends. We’ve entered a year-long transition period where both EMT versions are valid. Some vendors are switching to 3.0 earlier than others.
Where can I find out more?
Watch our live webinar and hear direct from Mario Mantrisi our Chief Strategy and Knowledge Officer and Calum Muskett our Chief Commercial Officer, as they explain: what’s changing and how it impacts your teams, how not to fall for the target market pitfall, and what you need to do today to get ready.
Download our EMT 3 checklist