MiFID II has dramatically increased Best Execution requirements for investment firms. Firms have a legal obligation to provide evidence that they were acting in their best interests on any trade. This requires firms to hold and collate masses of data, submit regular reports and provide Transaction Cost Analysis (TCA) on their trading activity.
Specifically investment firms must demonstrate they were carrying out their fiduciary duty to their clients in terms of best price, speed, likelihood of execution and trading venue. Finding and extracting the relevant data from multiple sources to prove Best Execution can be a time consuming and onerous task.
With SteelEye, you can meet your regulatory Best Execution requirements and improve your trading performance through one comprehensive and asset class agnostic solution. SteelEye helps firms:
Effortlessly compile RTS 27 & 28 reports
With SteelEye, you can quickly consolidate all order, trade and communications data and overlay with independent market data, making RTS27 & RTS28 reporting effortless.
Improve trading performance
By using external market data for benchmarking, SteelEye's Best Execution TCA helps you better understand your trading performance and identify possible strategies for improvement.
Ensure execution quality
SteelEye keeps on checking execution quality automatically in the background, ensuring your orders keep on meeting your regulatory obligations.