InfoReach Incorporates MiFID II Support to Their Electronic Trading Solutions
Chicago, October 23rd, 2017 – InfoReach, Inc. (www.inforeachinc.com), a global provider of high-performance multi-asset electronic trading technology for capital markets, announced support for the MiFID II directive for its EMS, OMS and FIX engine products. The deadline for the MiFID II directive has been set for January 3rd, 2018. MiFID II is accompanied by MiFIR which is the EU regulation enforcing the MiFID II directive across all states.
As a leading provider of trading solutions, InfoReach has established an internal MiFID II program with the purpose of providing necessary functionality and support for its clients to be compliant with the relevant Regulatory Technical Standards (RTS) outlined in MiFID II.
InfoReach trading systems enable clients to plan, monitor, and prove the best execution across all asset classes. InfoReach products are equipped with state-of-the-art visual tools for real-time data monitoring, alerting and reporting that empower clients’ decision making process.
Risk control and surveillance are made easy through systematic checks that automatically block or cancel orders that are not within set limits. Traders are not able to submit orders that exceed risk settings. Orders blocked by pre-trade controls can be revised and resubmitted. InfoReach’s trading systems have emergency kill switches to immediately suspend any further automated trading and cancel all unexecuted orders submitted by any of the traders or algorithms. Automated protection functionality helps to detect faulty patterns like submitting duplicate orders and overflowing with rejects, and is accompanied with circuit breakers to halt further trading.
Reporting and data handling have been adjusted as well to address the MiFID II requirements. InfoReach is integrated with APA (approved publication arrangements) providers for Trade Reporting and is also partnering with ARM (approved reporting mechanism) providers for transaction reporting. Reports are also provided to clients for their own record keeping requirements. Microsecond timestamp granularity and clock synchronization measures are available.
As part of ensuring the resilience of if its trading systems, InfoReach has well defined, documented, and strictly enforced change management and testing policies. Engineers work closely with clients to facilitate necessary conformance testing of the algorithmic trading systems, in compliance with the required methodologies. The development and testing environments are ensured to be fully separated from the production.
On an annual basis the InfoReach team assists clients in performing a self-assessment and validation process, which includes providing up-to-date business continuity information. Regularly conducted stress tests verify that the trading systems can withstand increased order flows and market stresses of the client-specific scenarios, with at least doubling the busiest load for capacity and throughput. Additionally the InfoReach team fully complies with its clients’ IT security policies.
InfoReach is an independent provider of multi-asset broker-neutral software solutions for electronic trading, including OMS and EMS platforms for global equities, futures, options, forex and fixed income. InfoReach team delivers high-performance technology with high-touch support. The buy-side and sell-side client systems are tailored to accommodate current and future needs. They are configurable to deliver unique adaptations without adding development time and costs.
For more than 20 years, InfoReach has helped clients to improve their trade execution process and performance with efficient design and support of consolidated trading tools and global connectivity network.
InfoReach is a privately-held company headquartered in Chicago, with offices in New York and Amsterdam. For more information, visit www.inforeachinc.com.
Nick Halvorsen, InfoReach Inc.
312 332-7740 ext2018