London-based Pronet Analytics is launching an equities research service to help investment banks and brokers address conflicts of interest charges.
The settlement between New York Attorney General Spitzer and ten Wall Street banks was finalised last month and requires that named banks provide clients with research sourced from external, independent firms.
The Pronet service, under the working title of Spitzer Settlement Solution, or S3, will initially cover about 600 equities – the constituents of the S&P 500 and Nasdaq 100 indexes – and combines live updating graphics with short, medium and long term strategies from Pronet analysts.
Pronet says the combination of live graphics with the strategies will provide users with the ability to trigger trades after evaluating recommendations in conjunction with analysis from other sources.
Shane Smith, CEO, Pronet, says there is demand for research from external, independent sources to help to differentiate each banks' offering to its clients.
"We have built-in intelligence so that in addition to helping inform sensible investment decisions, and leading to order flow, it (the solution) can report back to the bank in real-time on the research that most clients are using," says Smith.
Other services from Pronet address spot FX and exchange traded interest rate derivatives.