BME introduces new Big Data platform for its TCA & Best Execution service

Maria Nikolova

The new solution enables reduced computing time and customised MiFID II-compliant reporting.

BME has launched a new Big Data platform for its TCA & Best Execution service through its Innovation subsidiary BME Inntech. This service is aimed at securities brokers and broker-dealers as well as fund managers.

The Transaction Cost Analysis (TCA) reports are used to gauge the quality of execution management by the different brokers that process orders from their institutional clients.

The new TCA & Best Execution platform markedly cuts computing times and allows users to generate customised reports on a specific order flow in just a few seconds. Another improvement incorporated is linked to traceability and data quality management.

“Over the last few years we have seen a decrease and standardisation of the commissions (explicit costs) generated from the intermediation of orders. In this context, the implicit execution cost resulting from order management takes on much greater importance. More and more investment managers rely on TCA reports to measure this implicit cost and use this information in their broker selection procedure”, says Berta Ares, General Manager of BME Inntech.

Following the implementation of MiFID II, investment services firms must carry out a thorough monitoring of the quality of execution that they are receiving for their clients’ orders, in order to obtain the best possible result for them. Among other requirements, firms must justify their trading venue selection policy to their regulators, based upon quantitative data. The Best Execution reports allow firms to estimate the maximum profit they could obtain if they incorporated new trading venues and compare it with the cost of the infrastructure needed for it. This enables them to optimise investments in IT and justify their execution policy to their relevant authority.

Read this next

Retail FX

eToro users now can trade underlying Italian stocks

Israeli social trading and multi-asset brokerage company eToro has expanded its service offering and trading products by incorporating new markets, namely Italian stocks listed at underlying exchanges.

Digital Assets

BlackRock bets on crypto bank Silvergate despite drastic fall

BlackRock, the world’s largest asset manager, has increased its stake in Silvergate Bank, a crypto-friendly lender that counts major crypto exchanges like Coinbase and Kraken as clients.

Opinion

A viewpoint from Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, on SEC regulation of the digital asset sector

The SEC’s latest episode comes across as more of a PR performance rather than an act of investor protection.

Digital Assets

Tether denies receiving any loans from Celsius, the opposite is true

World’s largest stablecoin issuer, Tether dismissed reports suggesting that it received a $2 billion loan from the bankrupt cryptocurrency lender Celsius.

Institutional FX

Cboe FX volume makes strong rebound in January

Cboe’s institutional spot FX platform today announced its trading volume for the month ending January 2023, which marks a mild rebound after a steep fall in December.

Uncategorized

XS.com appoints Exness alumni Mohamad Ibrahim as CEO

XS.com, the multi-regulated financial services provider, has appointed Mohamad Ibrahim as the group’s newest chief executive officer (CEO).

Technology

B2Broker Integrates Match-Trader Solution to Expands Its White Label Liquidity Offering

A global provider of technology and liquidity for the FX and cryptocurrency markets, B2Broker recently announced the extension of its white label liquidity offering by merging with Match-Trader.

Digital Assets

UK launches open consultation to regulate crypto exchanges, custody, and lending

The government’s proposed measures have been informed by recent market events – including the failure of FTX – which reinforce the case for effective regulation and sector engagement.

Institutional FX

ViewTrade celebrates record growth with launch of carrying broker services offering

“We have been at the center of the empowerment of the retail investor for decades, supplying the technology to facilitate cross-border access to U.S. markets. Our demonstrated ability to provide a full-service, end-to-end solution to a diverse global customer base continues to prove its value every day.”

<