| August 6, 2007 - As the
European trading and exchange community prepares for
the Nov. 1 effective date of the Markets in Financial
Instruments Directive (MiFID), multibroker trading platform
developer TradingScreen says it is ready with MiFID
in a Box, a comprehensive set of services designed to
ease compliance.
Two selling points are the ability to define best-execution
policies and select algorithms. MiFID in a Box will
also offer post-trade reporting and transaction performance
measurements, including latency.
"A number of our buy-side clients have asked
us to leverage our cross-asset-class capabilities, as
well as our pre- and post-trade analytical capabilities,
to help them meet the new challenges of best execution
under MiFID," said TradingScreen president and
CEO Philippe Buhannic. "And in response to the
needs of our clients, MiFID in a Box will require no
installation, no development and no complex database
integration process. This is just another way for us
to be simplifying global markets," he told Securities
Industry News.
The New York-based company has been actively planning
for MiFID and its clients' transition to it for two
years. Buhannic said that efficiency was paramount.
"All our buy-side clients distributing their products
in Europe will feel the impact of the wide-ranging MiFID
market changes," he said. "TradingScreen has
a unique perspective on how clients can achieve the
best execution. Our new services will facilitate venue
selection in the post-MiFID environment and will be
supported by our new online reporting to provide flexible
review and monitoring."
A recent report by Needham, Mass. research firm TowerGroup
projected that published market data will jump as much
as 900 percent by 2012 in reaction to MiFID and its
U.S. counterpart, Regulation National Market System.
In the face of requirements to store data to document
best execution, industry participants will have to determine
where to invest their compliance dollars as "they
evaluate demands on bandwidth, capacity, latency and
storage" the report said.
"TradingScreen is ready," says Buhannic,
adding, "MiFID in a Box will be enhanced as the
regulations settle in and compliance issues arise."
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