THE TRADE: AQUIS AND LIQUIDMETRIX TEAM UP FOR MIFID II BEST EX AND SURVEILLANCE
Both parties will bring best execution TCA and surveillance under one roof for users.
By Hayley McDowell
Aquis Technologies has teamed up with Strategic Insight’s LiquidMetrix to supply its clients with transaction cost analysis (TCA) for MiFID II’s best execution rules.
Users of Aquis Market Surveillance (AMS) will gain access to analytics for insights into trading behaviour and activity through an execution quality report produced by LiquidMetrix.
Clients of both parties will be able to use the respective surveillance and analytics services. For smaller firms who may not already have a TCA tool in place, the service will also be free of charge.
Magnus Almqvist, head of technology sales at Aquis, explained the services complement each other and together, “they are a great solution for those who need functionally-rich TCA… to improve their trading and to comply with new regulatory and surveillance requirements.”
He added: “Having been a user of LiquidMetrix’s TCA for a number of years now, it was a logical step to partner with them and we rate their product very highly. The fact we use LiquidMetrix ourselves I think is testament to how good we think it is.”
MiFID II requires trading firms to have systems in place to monitor and analyse order flow and transactions. At the same time, firms must have surveillance in place to satisfy market abuse regulations.
General manager at LiquidMetrix, Mark Ford, commented the partnership is “all about giving users a cost-effective solution to the growing challenges they face.”