DrKW launches MiFiD-ready order system

DrKW launches MiFiD-ready order system

Dresdner Kleinwort Wasserstein has unveiled an electronic order system which enables UK stockbrokers to meet new EU rules on pre-trade transparency.

Subscribers to the system will be able to send electronic orders directly to the LSE, Nyse, Nasdaq and European exchanges using their DrKW bestconnectt FIX connection or Internet front-end, and without needing to use a central counterparty.

The system will ensure that users are fully compliant with new EU rules on pre-trade transparency, says Maneesh Jain, director, equities electronic broking at DrKW. The EU Investment Services Directive (MiFiD), requires market participants to post prices at which they are willing to buy and sell shares, as well as prices they have already dealt.

Jain says: "This launch demonstrates that we are building a solution for our clients which is MiFID compliant and enhancing our offering to be ready for the regulatory changes that may take effect across Europe."

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