Software vendor GL TRADE has decided not to renew its agreement with Fermat, by which Ubitrade GmbH has distributed the Fermat risk management products in Germany, Austria and the Netherlands since February 2001. Ubitrade is being ceded to the Fermat Group from 2 January 2007.
Records compliance management software provider AXS-One Inc. has announced a number of contract wins, all signed within the past two and a half months.
Italian IT vendor SIA adds best execution module to its securities processing platform to facilitate MiFID compliance
Italian IT vendor SIA claims to have launched the first platform in Europe to verify and assess best execution, to enable securities market firms to monitor and control their operations in compliance with the Markets in Financial Instruments Directive (MiFID).
Avox, a network of financial services providers for the verification of counterparty data, has signed a cooperation agreement with VÖB, the Association of German Public Sector Banks (Bundesverband Öffentlicher Banken Deutschlands). The agreement aims to enable common marketing activities among member institutions of VÖB Services, a 100% subsidiary of VÖB which offers products and services in the areas of banking supervision, risk management and IT services.
Eight out of nine investment management firms attending a recent forum run by investment management consultancy Investit said they did not have a separate MiFID budget and are incorporating MiFID into existing business projects.
Fund management firms are finding it hard to measure the true cost of compliance with the Markets in Financial Instruments Directive (MiFID) issued by the European Union, say fund management consultants Investit.