Jefferies selects Ullink for MiFID best execution
10 July 2007 | 3870 views | 0
Investment bank Jefferies is to use Ullink's UL Smart software to meet the best execution requirements of the EU's Markets in Financial Instruments Directive (MiFID).
Jefferies will add the UL Smart module to the vendor's connectivity and order routing platform, UL Bridge, which the bank deployed at its UK operations last year.
As a single-process module embedded in UL Bridge, UL Smart makes decisions using real-time data from multiple sources, and routes orders according to user-defined best execution policies. Ullink says brokers can use a 'best execution policy designer' to customise policies to meet the needs of clients.
Bradley Duke, SVP, head of ETS sales, Jefferies International, says: "The UL Smart solution fits neatly into our existing infrastructure, allowing Jefferies to provide smart order routing services to our global DMA clients within the best execution framework."
Earlier this year Ullink formed an alliance with other technology vendors, including Sun Microsystems and Avitis, to offer financial services firms an integrated MiFID service.