One of the provisions of these changes is the best execution requirement. Following this regulation and in the interest of investors, one or more best execution policies will be designed by sell sides, searching for the best execution conditions for client orders.

"To help our customers adapt to the MiFID regulation we have developed the Ullink Best Execution Engine. Thanks to the ULBridge and its 250 connectors to order routing networks, order management systems and exchanges in all asset classes, this engine will be easily integrated to clients' environments," says Laurent Useldinger, Chief Executive Officer of Ullink.

The Best Execution Engine is proposed as a new module in the ULBridge's software suite. Embedded within the ULBridge, the Best Execution Engine is:

• Multi market data (quotes, MTFs, ECNs)
• Multi execution venue (exchanges, order books, brokers)
• Multi message format (FIX, FAST, API)
• Multi asset class

This engine has a very low latency in routing orders to the best execution destination according to the company's MiFID policy.

"All our solutions are developed on a modular mode. The Best Execution Engine offers the possibility for each company to design their best execution policy, they can also create several best execution policies based on different customer groups (retail/professional) or on different order types."

To help customers be fully MiFID compliant, the Best Execution engine keeps a record of all the necessary data to prove that the order was executed at the most favourable terms of execution.