KTS releases MiFID compliance tool
19 July 2007 | 1525 views | 0
Source: Knowledge Technology Solutions
Knowledge Technology Solutions (AIM: KTS), provider of professional market information services in the finance sector, has launched a new MIFID compliance tool on MarketTerminal, its real-time market data display product.
The Markets in Financial Instruments Directive (MiFID) is an EU directive aimed at creating transparency throughout the European Union for market participants dealing in securities. One of the requirements of MiFID is that of Best Execution being offered by brokers to retail customers.
Aimed at compliance officers at stock brokers, KTS's simple-to-use Best Execution Verification Tool automatically analyses many thousands of client trades in specified equities, flagging any sales or purchases that fall outside of normal price parameters. i.e. trades significantly above the market's volume weighted average price (VWAP).
The Best Execution Verification Tool is provided as an optional upgrade on a standard MarketTerminal subscription. It is both simple to configure and operate, and can analyse more than 10,000 trades at a time. The tool is among a number of new solutions that are being added to MarketTerminal to assist financial firms address MiFID which comes into effect on 1 November 2007.
Dr Marc Pinter-Krainer, Chief Executive of KTS PLC, said: "Stock brokers have an increasing requirement to monitor their trading performance internally, particularly with the best execution compliance aspect of MiFID fast approaching. Our new best execution verification tool has been created to take the headache out of best execution compliance monitoring."