SEB selects Ullink for best execution under MiFID

Source: Ullink

Ullink, leading provider of global transactional solutions for the financial community, today announced that SEB selected its UL SMART solution to address the MiFID best execution requirements.

SEB is a leading North-European financial group that trades multiple asset classes in FIX, using ULLINK's connectivity and order routing platform, the UL BRIDGE.

In order to be MiFID-compliant, SEB has decided to complement its existing trading environment with the UL SMART, ULLINK's best execution engine.

Fast implementation and easy integration are key advantages of this new module. Customers simply add the module to their existing environment to meet MiFID or Reg NMS best execution requirements. As a single-process module embedded in the UL BRIDGE, the UL SMART makes decisions using real-time data from multiple sources, and routes orders according to user-defined best execution policies. Brokers use a graphical Best Execution Policy Designer to create custom policies that meet their customers' expectations.

"We first chose ULLINK for the scalability and flexibility of its solutions. It proves a wise decision as we will simply add the UL SMART module to our existing environment to be fully MiFID-compliant and ready to trade under MiFID by November 2007" says Christer Wennerberg, E-TCM business development at SEB. "ULLINK provides us with great service and support and helps us comply with the regulation. We see this as an opportunity to increase our level of customer service," says Torbjörn Ericsson, head of the MiFID implementation project at SEB.

The solution will be implemented at SEB in time for the MiFID's November deadline.

"We are pleased to help our customers meet MiFID and Reg NMS regulations by offering an easy-to-implement solution", says Laurent Useldinger, CEO of ULLINK. "Brokers are looking for off-the-shelf compliance to new regulations such as MiFID and Reg NMS: this new module is a perfect example of our constant effort at providing clients with ready-to-trade solutions. "

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