TRAction Fintech has announced this Wednesday the launch of a new solution which aims to help investment managers in the United Kingdom and Europe meet their obligations.
TRAction is which specialises in regulatory over the counter (OTC) derivatives transaction reporting. The new solution, named Execution Monitor, announced today helps investment managers monitor and give their clients the best execution outcomes.
In particular, the Best Execution Monitor compares data against Refinitiv data from the time a trade has been executed. Based on this information, the software provides statistics on the quality of pricing and execution.
Source: LinkedIn
“Using the TRAction fintech platform, the procedure and logic is clearly defined giving us the ability to view all transactions as compared to the equivalent Reuters data as well as being displayed in a graphical report.”
Confusion over MiFID II reporting remains
According to TRAction, the company launched the new product as the industry was in need of more sophisticated best execution analysis. As shown by a freedom of information (FOI) request carried about consultancy Duff & Phelps, approximately one in five investment firms are in talks with the (FCA) regarding errors in their transaction reporting under the regulation.
“Our new solution leaves no stone unturned for investment managers. All trades will be required to be monitored, not just the ones required under the transaction reporting rules, but those trading on non-MiFID II trading venues.”
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