Barratt & Cooke, one the UK’s leading independent stockbrokers has chosen LSE’s Proquote gateway to work in conjunction with Investmaster’s order management and routing system, InVantage Trader to enhance MiFID best execution compliance.
This regulation, coming into force on 1st November 2007, will require investment managers to demonstrate access to a wide range of counterparties and levels of sophistication in pre-trade transparency. Barratt & Cooke’s connection to the Proquote gateway will provide access to a significant number of Retail Service Providers (RSPs) for electronic trade execution on a ‘best execution’ basis.
The InVantage Trader browser-based module, provides full automation and efficiency gains by streamlining multi-channel and multi-market transactions. Thereby providing full ‘straight through processing’ (STP), with no need for re-keying, resulting in a reduction of errors and the creation of a fully integrated front and back office.
Peter Little, Chief Executive of Investmaster comments: “Customers like Barratt & Cooke are welcoming the flexibility that our solutions offer. Trader connects to the majority of available RSP gateways in the UK, making it ideal for companies assessing their MiFID compliance issues. We aim to make sure that our customers are getting value for money and are able to concentrate on customer service with minimum disruption to their systems and processes.”
Martin Warren, Director, Barratt & Cooke adds: “Having worked with Investmaster for over a decade we have come to expect their solutions to consistently pre-empt market demands. The addition of Proquote in particular, will grant us access to a significantly large number of RSPs, and working in conjunction with Trader, will give us a cost effective and efficient order management system as well as higher matching rates.”
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