With the introduction of the MiFID European directive, SoftSolutions! – in collaboration with its partners/customers – has created BestX!, the dynamic multi-market best-execution platform for the Fixed Income world.
BestX!: the MiFID-compliant Smart Order Routing platform, leader in Europe, which guarantees a dynamic multi-market Best-execution.
The system provides a full brokerage service for the automatic execution of Fixed Income orders; it integrates regulated markets, MTF and OTC circuits, enabling to cut costs and offering a zero error management, regardless of the volume of orders.
The functions covered are:
- order validation, control and execution
- pre-trade permission checks and execution strategies (algorithmic approach) including automatic management of commission (Pre-trade MIFID best-execution compliancy)
- smart order routing to appropriate exchanges/desks using predefined policies (internalisation strategies available)
- automatic Post-Trade reporting and storage of all transactions
- complete auditing
- Reduction in transaction costs and errors
- Reduction of order management and execution time
- Quick and transparent execution of MIFID compliant trades on multi-trading venue environments
- Dashboard provides orders statuses and alerts for manual intervention
- Benefits of RT execution on BBG and RTFI efficiency and liquidity
- Increase of order execution throughput
- STP available for OTC orders
- Integrates with existing infrastructure