The Kodiak OMS supports pre- and post-trade MiFID requirements.

Customer classification

Customers in the Kodiak OMS are categorized into retail, professional and counter-party. Kodiak OMS users can help customers to fill out MiFID terms and answer MiFID profile questions.

Kodiak fulfills both pre- and post-trade MiFID requirements:

Pre-trading MiFID

The system allows the capture customers instructions.
The system logs how the customer communicated with the trader.
Kodiak OMS user can view customers MiFID profile and give an advice according to the customers profile.
The system enforces the users to apply the correct MiFID tests when giving an investment advice.
- It is not possible to bypass the MiFID requirements when creating client orders.
All client orders in the OMS are either direct orders or advice orders.

Post-trading MiFID

The system stores all information about the orders life cycle from Order Creation -> Order Execution -> Allocation into back office.
Best execution proof. The system applies time stamps when client orders are created and when the order is sent to the market.
- The system takes a market snapshot when the order hits the market.
It is possible to look up how the customers MiFID profile looked like when the order was created. All client orders are linked to a MiFID test id.

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