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.
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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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