Modelity has been selected by BrokerCreditService StructuredProducts PLC (BCS SP) to cooperate in ensuring BCS SP’s compliance with the EU’s Packaged Retail & Insurance-based Investment Products (PRIIP’s) regulation, which requires firms to produce Key Information Documents (KID’s).

Since the inception of PRIIP’s regulation in the European Union, it affected not only EU players, but also companies from non-member countries conducting business in the EU.

BCS SP is part of BCS Financial Group, a leading Russian investment house offering a wide spectrum of high-quality structured products not only in Russia, but also in other markets including the EU. Modelity provides BCS SP with a comprehensive solution covering all the aspects required to comply with PRIIP’s regulation for KID production. This includes calculations, analytics (SRI, performance scenarios, costs, etc.), regulatory documents generation in the required languages, ongoing monitoring and KID updates based on market and regulatory events.

Franz Hep, Head of Structured Products at BCS Financial Group explains, “We challenged Modelity with the task of ensuring PRIIP’s KID compliance for a wide range of advanced structures based on various underlying asset classes, such as equity, credit, and interest rates,” and adds, “Modelity has all the experience and instruments needed to deal with the required complexities of our products and deliver the results in a timely manner.”

In response, Asaf Seri, Modelity’s COO, explains “We are very proud to be chosen as the solution provider for a leading player as BCS SP,” and also says, “as it not only confirms our leading position in the financial regulatory services, but also gives Modelity the opportunity to enter new markets.”