From November 1st this year, MiFID will require investment firms to execute trades efficiently at the best price, publish that information and show that the best price was obtained for clients. In response Reuters is offering a suite of solutions, developed with clients, which will allow users to meet the key demands of MiFID.
Todayâs announcement means that these requirements can all be handled by Reuters and will be offered based on proven solutions in use by customers today.
Specifically Reuters will allow users to:
see the best aggregated price for a stock, even when it is traded on more than one exchange or other execution venue
publish quotes and details of trades they have executed
check that a client has obtained the best price for a trade via Transaction Cost Analysis (TCA)
Reuters has developed these solutions after extensive consultation with clients who told the company what they wanted to see in a solution led by the market â not external regulation.
Stephen Wilson, Reuters Global Head of Exchange Traded Instruments, said; âMiFID is the biggest regulatory change to hit European markets in the last twenty years. Itâs a huge challenge for the financial services industry and thatâs why we are now offering clients the key solutions they need to comply. This is what our clients have asked us for and, as it largely uses existing technology, we can offer it to customers at a cost that will be affordable to even the smallest market participants.â