Landsbanki Kepler deploys GL Trade's MiFID package

Landsbanki Kepler deploys GL Trade's MiFID package

Landsbanki Kepler, the European investment banking arm of Iceland's Landsbanki Group, is using technology from French dealing systems vendor GL Trade to comply with the EU's Markets in Financial Instruments Directive (MiFID).

The vendor says that its MiFID offering provides Landsbanki Kepler with real-time market data aggregation, smart order routing and execution audit and benchmarks.

In addition, the system supplies full order traceability, archiving of market data for five years and access to execution benchmarks based on transaction cost analysis indicators.

"Landsbanki Kepler is using GL Trade's systems to link to 17 cash markets (including Chi-X) and has a range of flexible tools at its disposal to cope with the changes brought by MiFID," says Thomas Biotteau, head of front office projects for Landsbanki Kepler.

Following a validation phase Landsbanki Kepler went live with the GL Trade technology in mid-November.

Laurent Breboin, regional CEO, GL TRADE Paris Continental Europe, says: "We have worked hand in hand to get Landsbanki Kepler's execution policies working together with our solutions so that they can draw maximum benefit from the liquidity of securities at the same time as complying with MiFID."

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