Colt now provides connectivity to the pan-European exchange Equiduct through its financial extranet Colt PrizmNet, making it easier for firms to meet their best execution requirements under MiFID II.
Colt PrizmNet connects to key equity trading venues as well as other asset classes, simplifying access to multiple venues through a single platform and supporting firms to fulfil their regulatory obligations.
Equiduct is a regulated market segment of the Börse Berlin, and is considered pre-trade transparent and fully MiFID compliant. It provides access to pan-European equity markets, including the Euronext area, UK, Germany, Italy, Nordics, Spain and Switzerland. In 2016, EUR57.1 billion of trades were executed on Equiduct’s platform, saving investors a total of EUR5.9 million.
“The Colt PrizmNet financial extranet is a valuable addition to our client-facing connectivity offering. PrizmNet is offering an excellent service when it comes to demanding connectivity solutions. Our customers are European based financial institutions and in need of a network partner with the same geographical reach,” says Artur Fischer (pictured), CEO of Equiduct. “As we move increasingly into the new MiFID II landscape, the concepts of best execution and access to additional lit liquidity are of paramount importance at a time where resources are tight. The Colt PrizmNet low-latency network and exceptional levels of customer satisfaction, make Colt an ideal partner to provide access to Equiduct’s range of MiFID II solutions.”
Equiduct brings its best execution capabilities and access to pan-European lit liquidity to the growing number of MiFID II solutions available on Colt PrizmNet, including algorithm testing, trade reporting and market surveillance.
Andrew Housden, VP capital markets at Colt, adds: “At Colt we are proud to deliver a reliable and efficient service to meet the demanding requirements of the financial services sector. Responding to the upcoming regulatory changes is a key challenge for our clients and many are turning to Colt and our expert team for help to comply with MiFID II. Colt’s PrizmNet extranet links the Capital Markets global community and by connecting innovative providers, such as Equiduct, we are able to expand the range of services we offer, and with great agility. This is another example of our commitment to service excellence.”
Colt PrizmNet guarantees deterministic low latencies for delivering data, software, content and financial services worldwide – helping firms to reduce slippage and lost trades, and increase algorithmic trading efficiency.