HPR introduces Softbot MiFID II compliance tool
Hyannis Port Research (HPR), makers of Riskbot, today announced the completion of their MiFID II product portfolio, adding software-based technology to address the full spectrum of client and regulatory needs.
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HPR’s newly launched Softbot™ is a software-based risk management product geared toward buy side firms, quantitative funds and other less latency-sensitive clients requiring MiFID II compliance with enhanced API functionality. HPR’s flagship platform Riskbot® is a hardware-based sub-microsecond gateway. As the U.S. equities market leader, it serves many of industry’s most elite trading firms and has been adapted for MiFID II and MiFIR.
“HPR created Softbot™ to address all client types on a single unified platform,” said HPR CEO Anthony Amicangioli. “Clients can now right-size solutions from our suite of market access products designed to meet all of their MiFID regulatory needs.”
The HPR product suite addresses MiFID II’s most challenging requirements, including:
• Various pre-trade risk and compliance checks at both the trade- and portfolio- levels
• Comprehensive implementation of time stamping requirements
• Burden of proof to demonstrate best execution
• Resiliency, capacity and ability to ensure orderly trading via high availability
• Complete support of both pre- and post-trade transaction reporting requirements
“HPR has worked tirelessly to understand the many facets of the MiFID II and MiFIR regulations and has demystified the various requirements and captured them within a single world-class solution,” commented HPR’s VP of Risk and Compliance, Brian Germani.