Simplitium™ joins forces with IHS Markit to offer their end-to-end RTS 28 compliance solution to clients, helping them to simplify their Best Execution compliance procedures under MiFID II.
MiFID II mandates investment firms, as part of their Best Execution obligations, report their top five venues for all trading on behalf of clients. Since January 2018 firms are required to make an annual public disclosure (RTS 28) detailing these order routing practices for retail and professional clients across all asset classes.
IHS Markit’s solution fully automates the process of generating and publishing RTS 28 reports for all 22 ESMA instrument types. The platform generates the full suite of mandated order routing metrics and provides an optional enhanced analytics package. Completed reports will be hosted on an IHS Markit public site ensuring full compliance with the regulatory requirement. The solution makes the calculation, formatting and reporting of RTS 28 efficient, simplifying the entire process through a web based interface and a hosted public site for disclosures.
Investment firms will also have access to an optional enhanced analytics package, RTS 28 Reporting Premium, providing filtering and summarization of order routing data beyond the minimum regulatory requirement including date range, venue type, instrument category and client type. Detailed analytics are available on demand and through regular scheduled reports.
At Simplitium, we aim to provide our clients with a one-stop shop for all their MiFID II transparency obligations. By working together with IHS Markit, we are able to take pressure off our customers by helping them to meet their "Best Execution" requirements as part of RTS 28.
For further information, please contact:
+44 (0)20 3735 4981
By listening and responding to the market, Simplitium (formerly known as Boat Services) transforms complex challenges into flexible, scalable and secure solutions. Simplitium’s services help firms achieve greater efficiency and transparency in their daily operations, from regulatory compliance and cost management to catastrophe risk management.
As a subsidiary of Cinnober, one of the world’s leading clearing and trading technology providers, Simplitium has the stability and structure to ensure secure and reliable delivery of world class services that cover the entire transaction chain. For further information, please visit www.simplitium.com.
About IHS Markit
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and expertise to forge solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions.
IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth. For further information please visit their www.ihsmarkit.com.