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After introducing the SDR and SRD II regulations, our current article will cover how Dorsum helps financial institutions comply with these regulations. Dorsum’s Securities Events is an SRD II compliant containerised solution that not only provides a solution for SWIFT compliant players, but also for non-SWIFT capable investment service providers in the market. The module generates events from existing announcements and then accesses customer, security and stock data from available backoffice systems via interface connections. These are used to run a calculation that results in the display of customers eligible for notification, automatically generating and sending a notification according to the communication channel (be it SWIFT, web platform, email or postal mail) set for the customer reached from the master data.

These incoming and outgoing message flows can also be tracked. The main aspect is flexibility and personalisation.

Two decades after the turn of the Millennium, it is no longer possible to operate with data burned into configurations alone. Flexible, easily parametrisable processes need to be built that can be well adapted to customer needs and changes in legislation, can be well integrated with existing systems and offer a customer-friendly UI solution.

When the securities markets were revived in the CEE region, there were two types of custodian banks from an IT perspective. One where the Western European parent company brought the expertise and IT background ready, the other where they tried to develop their own systems. In the early 1990s, these systems were very simple systems, more for securities registers, dealing with analytics in addition to the customer base, and were isolated because they had no interfaces to other systems.

With Fintech companies offering digitalisation, automation and innovative solutions, this era is over.

The harmonisation of legislation and the idea of a single capital market, the ‘CMU’ (Capital Markets Union), is rapidly moving towards introducing more and more legislation and unifying national securities markets to ensure fair competition in capital markets.

In order to achieve its 3 main objectives, the CMU has set out the following action plans, to be implemented before 2020, which include 16 legislative and additional non-regulatory measures. Most importantly, through these regulations, directives the aim is to:

Support first and foremost European companies that bring green, digital and resilient economic recovery. Create a secure capital market environment within the EU in which individuals can invest and save for the long term. Integrate national capital markets into a real single market:

  • By easing the tax burden on cross-border investment
  • With shareholder support, investor protection
  • Stronger coordination of a harmonised supervisory system within a single market


For more than 25 years, Dorsum has been supporting domestic and foreign capital markets with IT-based, tailor-made solutions. Its range of products and services covers all players in the capital markets, from custodian banks to investment funds, pension funds, insurance companies and investment service providers.

Recognising the complexity of the capital markets, their regulatory dependencies, their heavy supervisory and reporting obligations, the individual needs of the players and the complex background processes, Dorsum employs experts who have come from the capital markets’ bloodstream, see the challenges, understand and monitor the legal requirements, know the customer and market needs, foreign trends and can provide solutions.

Dorsum is constantly working to support capital market players not only domestically but also across borders in the CEE region and the entire territory of the EU. In line with the EU and CMU ambitions, we are slowly breaking down the walls and we are talking about non-national but unified capital markets in a few years time, where investors will receive the same service through harmonised legislation.

Dorsum already supports securities market participants with innovative ideas that are unique and bring the best solution to a problem. It constantly monitors and delivers solutions to EU directives, as harmonisation requires a single order and solution. The company creates new, flexible, extensible architectures and builds parametrisable processes into systems that no longer require the continuous, permanent presence of IT operations.

It is no longer thinking in terms of robust code systems and dependencies, but in terms of micro-services and detachable modules that are much easier to test and implement and can be well-segmented. In addition to a well-configurable system, the user experience has been given a high priority, so that individual functions are displayed on customisable dashboards and widgets.

These solutions and visualisations are no longer only at the forefront of frontend design for online platforms for retail customers, but also provide a visual experience for back-office staff on a daily basis.

With the help of Dorsum’s analysts, Dorsum provides ongoing professional support to its customers and has also launched a consultancy service to help customers find cost-effective IT solutions when restructuring a back office process or making a major system change. These experts present at international conferences and keep their finger on the pulse of the capital markets to ensure that customers feel continued support in difficult times.


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