Product release: EMT v4 is here!
In our latest product release, the upcoming version of the European MIFID Template becomes available to our EMT clients!
On 4 February 2022, Findatex launched a public consultation on the new European ESG Template (EET v1) as well as an update to the European MiFID Template (EMT v4). The consultation closed last week, and we are excited to share that this latest version of the EMT is already available on our systems.
Why the EMT v4?
Some of the fields on the existing EMT v3 and EMT v3.1 have been replicated on the EET. Therefore, the introduction of this new template triggered an update of the EMT in order to avoid duplication across templates. As the EMT v4 replaces the currently co-existing v3.0 and v3.1, it can be expected to become the only version of the EMT for use.
What are the primary changes from the current versions that Asset Managers operate on today (v3 and v3.1)?
Any information that is ESG related – may it be the SFDR classification or the German and French specific fields – has been rolled over from the EMT v3.1 into the EET, making the EMT v4 ‘lighter’ than its predecessor. In fact the EMT v4 is more of a copy of the previous EMT 3 with the the reference to the sustainability preference (yes or no) becoming mandatory and no longer being optional.
As product manufacturers start making the EET available on 1 June 2022, the EMT v4 is suggested to be introduced as at the same time. It is important that the EMT is considered as part of any EET projects because providing an EET or not will impact what version of the EMT you should be using.
How can Kneip help?
Kneip provides a single solution for creating and maintaining MiFID II-compliant target market and cost data definitions for your products, including necessary calculations for risk, transaction cost and ongoing charges as well as the management and publication of EMTs, no matter what version. Our solution can from now on produce and disseminate EMTs in any version 1, 3 and 3.1 and 4 as well as in any required format, such as Xls, Xlsx, CSV, Openfunds, FundXML, WM-Daten.
Visit www.kneip.com/mifid-compliance to find out more, or contact us today.