29 Oct 2007, David Benyon, Operational Risk & Regulation
LONDON – Reuters has launched two new products to demonstrate to firms their best execution policy before the Markets in Financial Instruments Directive (Mifid) implementation deadline this Thursday.
As M-Day approaches, the Transaction Cost Analysis Service allows firms to send their transaction data ad hoc or at irregular intervals, and receive feedback on the service provided to customers.
The second product, called DataScope Tick History On Demand, gives firms over-the-counter and exchange data to facilitate pre-trade and post-trade calculations, execution venue selection and best execution checks.
The system draws on international asset information over a five-year market history, including pricing data on sales, exchange qualification information and all other field-level information required by the new EU directive.
Emmanuel Doe, New York-based global business manager at Reuters Enterprise Information, says: “Reuters Tick History On Demand provides our clients with a solution that enables the quick and efficient verification of best execution compliance as required under Mifid.”