KTS Launches Best Execution Verification Tool for MiFID Compliance
Knowledge Technology Solutions has launched a new MiFID compliance tool on MarketTerminal, its real-time market data display product. One of the requirements of MiFID is that of best execution being offered by brokers to retail customers. Aimed at compliance officers and stock brokers, KTS claims that its best execution verification tool automatically analyses many thousands of client trades in specified equities, flagging any sales or purchases that fall outside of normal price parameters, i.e. trades significantly above the market’s volume weighted average price (VWAP). The new tool is provided as an optional upgrade on a standard MarketTerminal subscription. It can analyse more than 10,000 trades at a time.