ULLINK, a provider of global transactional solutions for the financial community, has announced that Jefferies, an investment bank for growing companies and their investors, selected its UL SMART solution to address MiFID’s best execution requirements.
Jefferies International, the UK subsidiary of US-based Jefferies Group, trades equities across the continent using ULLINK's connectivity and order routing platform, the UL BRIDGE. In order to comply with MiFID, Jefferies has decided to update its existing trading environment with UL SMART, ULLINK's best execution engine.
"The UL SMART solution fits into our existing infrastructure, allowing Jefferies to provide smart order routing services to our global DMA clients within the Best Execution framework," says Bradley Duke, senior vice president and head of ETS sales, Jefferies International.
As a single-process module embedded in the UL BRIDGE, UL SMART makes decisions using real-time data from multiple sources, and routes orders according to user-defined best execution policies. Brokers use a graphical best execution policy designer to create custom policies that meet their customers' needs and expectations.