Vela, the premier market access technology provider, has expanded its MiFID II solution suite as the deadline for the regulation fast approaches.
The company has announced the launch of its Systematic Internaliser (SI) Data Hub as part of its comprehensive MiFID II solution suite, as well the addition of Sun Trading as part of its roll-out of new Systematic Internaliser venues.
Its SI Data Hub provides clients with access to multiple SI liquidity price feeds through a single normalised API, helping to address MiFID II concerns regarding best execution and liquidity fragmentation when it takes effect on 3 January 2018.
SI Data Hub combines a ‘low latency, high performance solution’ with Vela’s normalised market data model, which allows clients to receive their own bespoke, individual SI price feeds through a single connection. The SI Data Hub is also available as a software-only solution to run in-house for new deployments or as an addition to existing solutions.
Ollie Cadman, head of business operations EMEA, at Vela said, “We are delighted to be working with Sun Trading to enable quick and cost-effective connectivity for their clients to comply with MiFID II. The addition of Sun Trading to our new SI Data Hub demonstrates our continued commitment to provide our clients with the most comprehensive market coverage whilst ensuring we include the latest liquidity providers.”
Vela’s SI Data Hub is part of a wider range of SI and MiFID II solutions including European Best Bid Offer (EBBO), support for Periodic Auction venues, enhanced Kill Switch functionality, and ongoing maintenance of exchange-driven changes.
Earlier this month, Craig Wallis, partner and head of trading at OSMO partners, told FinTech that the majority of buy-side firms are still a way off from being MiFID II compliant.
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