Mifid bandwagon attracts Rule
LONDON – Rule Financial, the London-based IT consultancy and software provider, is the latest vendor to jump on the Markets in Financial Instruments Directive (Mifid) compliance bandwagon with the release of a new platform for best execution and real-time transaction cost analysis (TCA), dubbed BestX, Rule officials say.
Mifid asks market participants to be able to prove that they have achieved best execution for their clients. The notion of best execution can be proven according to various factors such as price, fees or speed of execution, among others.
"Before our Mifid-based development, we had three products: the real-time business activity monitoring dashboard for the investment banking, a real-time historical
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