NEX Markets, a NEX Group business which provides electronic trading technology services in the fixed income and foreign exchange (FX) markets, believes that its EBS Institutional FX platform is uniquely positioned to help the asset management community address liquidity and execution requirements in advance of the MiFID II implementation.
EBS Institutional is NEX Markets’ FX workflow and trading solution catering to the specific challenges of the asset management community. The increasing need for transparency, including MiFID II obligations, requires asset managers to be able to track and justify every decision in the trading lifecycle. Meanwhile, newly required annual reporting on trading and best execution requires managers to attach importance to factors such as speed and price when reviewing their execution. With liability for regulatory reporting now falling squarely on the asset manager regardless of any outsourcing arrangements, the need for accurate, auditable and time-stamped data around FX trading is critical.
EBS Institutional helps clients to meet and exceed their increased obligations through its “big-data” architecture, which collects and manipulates vast amounts of data in real-time. Unique tools, developed specifically to marry the needs of asset managers with the enhanced eTrading offerings of their bank liquidity providers, include advanced pre-trade expected cost analysis (ECA) and post-trade transaction cost analysis (TCA). These not only track FX performance in real-time to manage and measure execution, but also monitor market impact and give client-specific pre-trade cost comparisons of multiple alternative execution methods. Through the added benefit of EBS’ leadership position at the centre of the FX markets providing unrivalled market reach and liquidity, EBS Institutional provides market views for clients to analyse and justify decisions while ensuring fairness to all funds.
Simon Wilson-Taylor (pictured), Head of EBS Institutional, says: “We are seeing tremendous traction as asset managers are realising the urgent need to significantly upgrade their trading platforms to meet their clients’ needs better in a post-MiFID world. We are in discussions with several asset managers, a number of which have begun on-boarding. We attribute this to the methodology of our platform, which was built in anticipation of client and regulatory needs for data-centric solutions within an intuitive, broad platform.”
