SIX, the provider of financial service infrastructure in Switzerland, including securities trading and settlement, information and payment transactions, says its regulatory data platform has added 1 million new Priips Kids per week since the rules came into force at the start of the year.
This has taken the total number of key information documents on its platform to more than 15 million, it added.
The EU’s Packaged Retail and Insurance-based Investment Products regime requires compliant businesses to provide significant amounts of data on client risk profiles, credit ratings, past performance and cost allocation. The information needs to be available in real time from banks and asset managers through distributors such as wealth managers.
SIX has partnered with funds data platforms such as PRIIPsHub to facilitate the distribution of documents through the SIX platform.
Phil Lynch, head of Markets, Products & Partners at SIX said the million-per-week Priips document figure points to continued growth in demand for solutions to address this flow of information.
“The demand for Priips and other regulatory data is only going to get bigger in the coming months as regulators monitor progress. Our platform and global network will continue to expand in order to meet the wider demands of the wider industry.”