Olivetree Securities, the independent agency broker, has adopted Otas TradeShaper, the live microstructure analysis and trade management system from Otas Technologies, to focus on the goals of best execution.
Recent FCA findings on the rules of best execution observed that many firms do not understand key elements of the rules, and the regulator therefore expects all firms to review their best execution arrangements and take immediate action to comply with the rules.
"The FCA's thematic review of best execution has highlighted the need for the industry to improve its practices. This improvement needs to be centred on monitoring and management of both explicit and non-explicit costs. By adopting OTAS TradeShaper for best execution monitoring, we are taking the important and necessary steps required by the FCA to ensure we have the best possible processes in place to protect our clients' interests and fulfil our obligations," said Mark Kelly, CEO Olivetree Securities Europe.
"The industry's dependence on static pre- and post-trade analysis is both practically and philosophically misplaced and cannot continue to be the default in the absence of perceived alternatives. The shift needs to be towards dynamic and real-time assessment of impact. We are excited to be able to demonstrate to the regulators, through the use of OTAS TradeShaper, a real step forward towards strong best execution adherence," Kelly continues.
Charlotte Wall, Global Head of Sales and Marketing at OTAS Technologies, said: "The implementation of OTAS TradeShaper enables users to ensure that they are in line with the recent best execution requirements laid out by the FCA. We're pleased that Olivetree is putting TradeShaper in place to ensure they fulfil best execution obligations for their clients"
Olivetree Securities specialises in evidence based finance using advanced data and analytics capabilities. Olivetree Securities' core products are brokerage services and it serves an exclusively institutional client base, focusing on the execution of European and US equities transactions.