Information provider Reuters announced on Monday it has launched two products that help clients comply with MiFID’s ‘best execution’ requirements, which come into effect on Thursday this week.
Reuters says its new hosted transaction cost analysis (TCA) service enables clients to send order and execution data on an ad-hoc basis or at an interval of their choosing, from daily to monthly. This helps institutions prove their execution policy achieves the best possible result for their customers, says the firm.
Reuters has also launched a service called DataScope Tick History On Demand, which provides tick-by-tick information on the market activity of every trade trade, dating back five years, as well as over-the-counter and exchange data to facilitate pre- and post-trade calculations and execution venue selection checks.
"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," says Emmanuel Doe, global business manager, Reuters Enterprise Information. "Reuters now offers the key tools that our clients need to be MiFID compliant," explains Stephen Wilson, global head, exchange-traded instruments, Reuters. "MiFID is a massive regulatory change for European markets but we are confident that Reuters can help our customers meet the challenges ahead using technology they already have," he adds.