DECIDE /ETH provides an easy to integrate solution for the challenge of establishing a MiFID compliant order management and best execution business process within the required implementation timeframe.
DECIDE /ETH offers best execution policies in two basic variations:
- Routing order-by-order to the most favorable market according to real-time aggregate exchange order books.
- Routing decisions based on historical measures of execution qualities of markets considering, for example, their liquidity or spreads.
DECIDE /ETH offers all the flexibility you and your clients' need defining best execution policies. Decision rules can easily be set up within a table-based framework. In addition, complex execution policies may be specified using a scripted language. It accommodates almost any conceivable policy rules.
With the flexibility of its rule-based engine, the system is well positioned to incorporate later expected changes of MiFID regulations as well as anticipated client requirements with respect to their own firm-specific best execution rules.
In accordance with the directive, all order process data, best execution data and routing decisions are archived for later reporting or auditing purposes.
DECIDE /ETH also addresses other areas and requirements of the directive. In compliance with the Conduct of Business Obligations the system will regard customer profile data for assessing the financial instrument's suitability and appropriateness. The platform will observe the Client Order Handling Rules. Furthermore, the system will publish post trade transparency data via chosen media (e.g., exchanges, market data providers).
