Reuters has announced its
strategy to help financial clients meet the needs of the
forthcoming MiFID directive.
From 1 November this year, MiFID will require investment firms
to execute trades efficiently at the best price, publish that
information and show that they obtained the best price for
clients.
In response, Reuters is offering a suite of solutions, developed
with clients, which will allow users to meet the key demands of
MiFID.
Reuters said the systems would allow users to see the best
aggregated price for a stock, even when traded on more than one
exchange or other execution venue.
Reuters will also allow users to publish quotes and details of
trades they have executed, and check that a client has obtained the
best price for a trade via transaction cost analysis (TCA)
Stephen Wilson, Reuters global head of exchange traded
instruments, said, “MiFID is the biggest regulatory change to hit
European markets in the last 20 years. It’s a huge challenge for
the financial services industry and that’s why we are now offering
clients the key solutions they need to comply.
“This is what our clients have asked us for. As it largely uses
existing technology, we can offer it to customers at a cost that
will be affordable to even the smallest market participants.”
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