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Kathryn Emerson Nov 6, 2017 7:06:00 AM 2 min read

Eurobase delivers a MiFID II solution to a major player & boutique derivatives OTF in Europe

London – 1th November 2017 – Eurobase, the provider of treasury front-office and customer trading portals today announce a new partnership with a major player & boutique derivatives OTF (Organised Trading Facility), to deliver its MiFID II solution, siena Regulatory Reporter. The solution, already deployed at corporate banks, supports both best execution compliance from the earliest client interactions, through to satisfying reporting obligations in a single, compact application.

The challenges facing OTF’s in the run up to the 3rd January deadline are in many ways even more demanding than those of other financial institutions. For example, they are permitted to execute orders on a discretionary basis and negotiate between clients. On the other hand they are not allowed to trade with systematic internalisers. They also need to continuously publish bid and offer prices along with indications of market interest.

siena Regulatory Reporter will be configured to support the OTF’s best execution and MiFIR transaction reporting requirements across all their impacted tradable asset types including exotics. Full pre- and post-trade transparency will be driven using data collated from in-house trading systems and this data retained for audit purposes and for generating the necessary venue reports required under RTS27.

Joe Locke, CEO, eurobase, said: “We are extremely pleased that an OTF has chosen our solution for MiFID II compliance as this further demonstrates its flexibility to meet the needs of a variety of different types of market institution.  We are fully committed to helping our clients implement our solutions in the shortest possible timeframes both in response to regulatory as well as market-driven demands.

siena is a unique platform for client-driven treasury trading. Its high-performance, in-memory compute engine powers low latency pricing and complex real-time risk calculations supporting treasurers, traders, sales desks and on-line customers in a single, cost-effective application.