PLIA by Plato
Due-diligence and Counterparty Management Platform
PliaKYB has the largest and most comprehensive compilation of relevant and timely due diligence questions related to best execution. The platform, developed and operated by Urvin.Compliance, provides a controlled, secure, auditable environment for counterparty management and coordination. As the first application created for this purpose, the network of broker-dealers on the platform is the most comprehensive, not just in Europe, but globally. Given the increased scrutiny on best execution and overall business transparency by regulators, asset owners, fund boards, and best execution committees, PliaKYB provides a centralised platform to manage this for both buy-side and sell-side users.
By using PliaKYB, European buy and sell-side market participants will be able to better communicate and understand important aspects of each others’ business. Among the many areas that are supported in PliaKYB would include:
Compliance policies, including trade monitoring, disclosure, and training
Dark pool operations, including routing, risk checks, and matching processes
Smart order routing strategies, including venue selection and customisation capabilities
Regulatory procedures, including disaster recovery, AML, and audit
Technology robustness, including venue connections, safeguards, market stress and kill switch capabilities
Trade outlier investigations and communication
One-time requests such as updating terms and conditions, attestations, and algo customization
The PliaKYB utility is available to all asset managers and their counterparties and includes an unlimited number of questionnaires in a given region.
As a preferred partner to the Plato Partnership, a European Advisory Board comprised of Plato members and other key market participants helps to guide PliaKYB development and functionality.
Plia KYC (Know Your Customer) is being launched in the first quarter of 2022. In collaboration with the Plato Partnership, Plia KYC is aimed at simplifying and expediting the KYC/AML process for asset managers and their brokerage partners. Plia KYC was designed with data security and control at the forefront, which allow asset managers complete control of their data.
The scope of the project, initially only available to Plato Partnership and Advisory Group members, with be:
Document Sharing, Re-use, and Permissions
Implement end-to-end encryption of files to provide secure document sharing
Allow buyside clients to upload their documents into a repository
Allow buyside clients to give and revoke permission to those documents for an individual or group of sell-side counterparties
Alert counterparties when any documents they have access to have been updated
Alerting and Workflow Management
Allow sell-side clients to appoint a single point-of-contact to manage a buyside client relationship and help to coordinate activity across divisions and jurisdictions
Allow sell-side clients to define workflows with questions and tasks to be completed. Each question or task can be assigned an internal responsible party to review responses, and can be assigned a responsible party when received by a buyside client
Pre-defined workflows can be assigned to buyside clients with deadlines for individual tasks or for the entire workflow
Buyside clients can re-use responses to the same question or task, helping to streamline the entire process
Provide alerts to buyside and sell-side clients as workflow tasks are completed or when flagged for more information
Provide API-level access to sell-side clients for integration of documents into their existing software or workflow