SIA Launches European Platform for Best Execution
Società Interbancaria per l’Automazione (SIA) has launched an ‘execution policy monitoring for MiFID’ module, available on SIA-EAGLE, a technological platform dedicated to monitoring and controlling the operations executed on all financial markets. According to SIA, the platform will therefore be able to incorporate the requirements set by MiFID, create conditions to increase the degree of transparency by operators and guarantee higher protection of investor’s needs. The company says that through the new module, financial operators will be able to automatically analyse all the transactions carried out on the various European financial markets. The module will be able to verify compliance with the contractual terms agreed by the financial operator and the investor ex-post: summary indicators will warn of transactions that fall outside the execution strategy and control algorithms will point out the single factor defined by the execution policy (price, explicit costs, implicit costs such as market impact and opportunity cost, speed and probability of execution as well as probability of settlement) that do not meet the expected execution quality.