Financial technology provider FlexTrade has launched a best execution platform to ensure the best possible results for clients when orders are executed, planned, monitored and proven during the full trading life cycle.
Andy Mahoney, head of sales at FlexTrade UK, said: "Our FlexTRADER EMS is built for best execution. With MiFID II approaching, we have tied together our 3rd party integration program, expanded into fixed income, and added enhancements to our TCA application, FlexTCA, to provide our view on best execution across the asset classes."
The platform provides clients with a customised workflow to help them to achieve best execution, said a statement. This workflow provides traders with data from both transactional and market sources along with market intelligence from integrated third parties, all whilst capturing the complete trade in real-time to later provide data for analysis.
In addition, the site provides relevant news and content regarding MiFID II legislation, including FlexTrade's customised MiFID II compliance solution, answers to commonly asked questions regarding inducements and informative blog post updates.
With only four months to go until the MiFID II's 3 January 2018 implementation date, buy-side firms are facing huge changes in disclosure and transparency requirements, which could upend their data management architectures. It's fair to say this is something firms are wrestling with.
By raising the bar on market transparency, MiFID II has created a huge data management problem for buy-side and sell-side firms, particularly for investment managers. They need to take in a lot of data from the various venues to provide disclosures to their clients and to their national competent regulators. Transaction reporting is necessary for all financial instruments on a T+1 basis, but while MiFID I had 20 fields, MiFID II raises the number to 65.